RE:RE:RE:GLTALongs. TD High lights.rusty777 wrote: AS I have said before - many of these "talking heads" are telling us what THEY want us to do - not what we should do. If you see a drop on the horizon then you have to create a demand into which to dump your shares.
I agree with you $7.00 is a distinct likelihood as both parties ih the US want to drive the cost of a tank of gas down for the consumer either before or after the election.
Canada is no better, our Federal folks also want to see lower gas prices (the fact that it will also hurt both Sask and Alb is just an added bonus for JT)
It's all pretty short-sighted in my opinion as destroying the very companies that keep us warm with the lights on before we can transition to green energy is simply plain dumb...probably good for politics but not the brightest move for the average Canadian or American.
GLTA
Rusty
(???) Who's "destroying companies"???? Certainly not the feds who spent 30B to build a pipeline so that AB oil companies could increase output and get a better price, is it? (??) If oil companies get "destroyed" it's because they commit SUICIDE like in 2013 when US production went up 50% in a couple of years and the price of oil CRASHED below the cost of production. Or when Canadian producers increase output before checking if there's capacity to move this new oil out of the province. The "discount" to WTI skyrockets because of the backup....and Alberta blames Ottawa EVERY TIME! For what? For Alberta's lack of discipline, poor planning and foresight???
Everybody who's whining about the price of oil and share prices right now should bring up a ten year graph of the WTI price...and then a 25 year graph.... Oil is going to be below 60 before year end IMO.
That's where it shoud be given the realities at work today. Full stop. Get used to it...There are no conspiracies at work here....it's just THE MARKET doing what it does. The newest finds in Guyana and Brazil are HUGE...and they are cheap to bring onto the market...directly onto tankers from the wells...no pipelines, no trains, no storage.....The oil price is going to be "low" for quite a while....