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Some producers 'brutalized' in energy stock sell-off: Canadian crude prices cause concern

Calgary Herald -- Forget spring breakup, a sell-off in oil producer stocks that began in the winter is persisting this spring, irking oilpatch investors and executives heading into the second quarter.

It's the time of year many CEOs blame soggy soil that thwarts drilling plans for lower production numbers. This year, they're more worried about the price of Canadian crude.

Oil-weighted producers based in Calgary have lost anywhere from 10 per cent to nearly half their market value in the last month as investors flee energy stocks. Money managers are pointing, in part, at steeply discounted Canadian crude prices.

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Submitted Apr 08, 2012 By: rx7racerca

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NHLiveFree Champion Author New Hampshire Posts:11,105 Points:1,624,380 Joined:Jun 2008	Message Posted: Apr 8, 2012 10:16:05 PM Ignore NHLiveFree Report Abuse Oh, the inhumanity of it all. About time these creeps were "brutalized". That's nothing compared to the consumers "assaulted" by their manipulations of energy futures.
Ahking Champion Author Orange County Posts:3,512 Points:604,425 Joined:May 2011	Message Posted: Apr 8, 2012 9:43:51 PM Ignore Ahking Report Abuse perhaps the middleman is making most of the money.
rx7racerca Champion Author Calgary Posts:4,201 Points:1,114,000 Joined:Sep 2008	Message Posted: Apr 8, 2012 2:27:36 PM Ignore rx7racerca Report Abuse Gas prices are high because most of Canada east of Manitoba, and the east and west coasts of the US rely on top-dollar imported Brent crude or similarly priced OPEC crudes. There's no pipelines to get Canadian and Upper Midwest US crude to the regions that are the largest crude consumers, so the Plains are swimming in oil that's running as much as $50/bbl off world prices, and the rest of the continent is paying for the $125/bbl crude to be imported.
puinsai808 Champion Author Honolulu Posts:3,549 Points:728,280 Joined:May 2011	Message Posted: Apr 8, 2012 11:10:23 AM Ignore puinsai808 Report Abuse I don't agree.
DanMtz Champion Author Oakland Posts:3,360 Points:1,244,300 Joined:Oct 2009	Message Posted: Apr 8, 2012 9:23:35 AM Ignore DanMtz Report Abuse That's a crying shame.
Luckylindy Champion Author Milwaukee Posts:4,524 Points:1,129,020 Joined:May 2008	Message Posted: Apr 8, 2012 5:43:58 AM Ignore Luckylindy Report Abuse Sorry if I have no sympathy for them. I'm getting brutalized at the pump.
LauraLea5 All-Star Author Ontario Posts:779 Points:439,085 Joined:Mar 2011	Message Posted: Apr 8, 2012 5:08:23 AM Ignore LauraLea5 Report Abuse Then why are the gas prices still high??
ReddevilNO Champion Author New Orleans Posts:3,376 Points:582,340 Joined:Aug 2011	Message Posted: Apr 8, 2012 5:01:09 AM Ignore ReddevilNO Report Abuse Good.
paoli8 Champion Author Philadelphia Posts:7,086 Points:1,821,470 Joined:Jul 2007	Message Posted: Apr 8, 2012 4:05:07 AM Ignore paoli8 Report Abuse Too bad
FieroGT Champion Author Twin Cities Posts:14,327 Points:2,507,085 Joined:Mar 2005	Message Posted: Apr 8, 2012 3:50:26 AM Ignore FieroGT Report Abuse I know how that goes. Canadian crude prices go down, the pump prices go up. It seems it is always the same at the pump no matter what the crude prices are.
BazooQC Champion Author Montreal Posts:9,715 Points:1,637,425 Joined:Oct 2008	Message Posted: Apr 8, 2012 3:47:32 AM Ignore BazooQC Report Abuse Well if Canadian Crude prices are steeply discounted ... why is the price of gas so high then!
DrivingFool2 Champion Author Appleton Posts:8,597 Points:1,607,065 Joined:Apr 2005	Message Posted: Apr 8, 2012 3:46:25 AM Ignore DrivingFool2 Report Abuse About time
BigDogOH Champion Author Cincinnati Posts:8,513 Points:1,809,770 Joined:Mar 2008	Message Posted: Apr 8, 2012 3:45:25 AM Ignore BigDogOH Report Abuse Consumer brutalization
LogansGasPrices Champion Author Indiana Posts:1,639 Points:1,041,140 Joined:Sep 2005	Message Posted: Apr 8, 2012 3:45:11 AM Ignore LogansGasPrices Report Abuse Happy Easter
ChristinaCricke Champion Author New Jersey Posts:3,753 Points:769,525 Joined:Mar 2011	Message Posted: Apr 8, 2012 3:43:22 AM Ignore ChristinaCricke Report Abuse MMMMMMMMMMMMMMMmmm
TommyTraveler Champion Author Cincinnati Posts:8,684 Points:1,699,280 Joined:Nov 2007	Message Posted: Apr 8, 2012 3:38:21 AM Ignore TommyTraveler Report Abuse I am surprised oil has not toppled back to the $30 range by now. This shows how well organized the major financial houses of evil, corruption and greed are.
WR-INC Champion Author Twin Cities Posts:39,504 Points:3,626,285 Joined:Dec 2002	Message Posted: Apr 8, 2012 3:37:26 AM Ignore WR-INC Report Abuse Steven Chu will see that fuel prices remain high, even if the administration has to tax their way to that goal.
jimraehl Champion Author Utah Posts:7,074 Points:1,638,540 Joined:Sep 2008	Message Posted: Apr 8, 2012 3:35:21 AM Ignore jimraehl Report Abuse Down is the right price trend.
bikechuck Champion Author Indianapolis Posts:7,016 Points:2,064,095 Joined:Apr 2006	Message Posted: Apr 8, 2012 3:33:40 AM Ignore bikechuck Report Abuse Finally some 'bubble' busting in oil stocks that have been inflated by speculators. Hope this is a trend that will moderate oil prices.
Gherk Champion Author Louisville Posts:1,866 Points:440,310 Joined:Mar 2011	Message Posted: Apr 8, 2012 3:31:48 AM Ignore Gherk Report Abuse So what else is new.
jrschl Champion Author Louisville Posts:2,972 Points:682,040 Joined:Jun 2011	Message Posted: Apr 8, 2012 3:30:47 AM Ignore jrschl Report Abuse Whatever. The cos. have been surviving and will continue to survive.
harleydoctor Champion Author Kansas Posts:7,355 Points:1,930,535 Joined:Sep 2005	Message Posted: Apr 8, 2012 3:30:20 AM Ignore harleydoctor Report Abuse QUICK68- I'll drink to that.........
Petrock Champion Author Lexington Posts:9,133 Points:2,559,710 Joined:Apr 2005	Message Posted: Apr 8, 2012 3:24:59 AM Ignore Petrock Report Abuse So could 'brutalized' mean payback for speculators? I sure hope so!
nurdco Champion Author Colorado Springs Posts:9,243 Points:1,696,360 Joined:Apr 2008	Message Posted: Apr 8, 2012 3:23:39 AM Ignore nurdco Report Abuse You mean Consumer brutilization....
neptune2008 Champion Author Michigan Posts:8,583 Points:1,671,675 Joined:Aug 2008	Message Posted: Apr 8, 2012 3:19:35 AM Ignore neptune2008 Report Abuse and WE pay...for them...again and again
VetteBlue Champion Author San Jose Posts:8,023 Points:1,612,720 Joined:Jan 2007	Message Posted: Apr 8, 2012 3:19:19 AM Ignore VetteBlue Report Abuse Smoke and mirrors.
DJRIO Champion Author Miami Posts:8,051 Points:1,426,560 Joined:Jan 2008	Message Posted: Apr 8, 2012 3:18:16 AM Ignore DJRIO Report Abuse it is bad government policies and laws that screw up this countries energy 's problems.
Quick68 Champion Author Columbus Posts:8,238 Points:1,227,750 Joined:Dec 2009	Message Posted: Apr 8, 2012 3:16:40 AM Ignore Quick68 Report Abuse Let the government, big oil and the speculators drink their oil.
SnickersDog Champion Author Denver Posts:3,288 Points:681,960 Joined:Feb 2011	Message Posted: Apr 8, 2012 3:16:39 AM Ignore SnickersDog Report Abuse Let them fall
spotterFL Champion Author Florida Posts:4,120 Points:524,990 Joined:Aug 2009	Message Posted: Apr 8, 2012 3:10:17 AM Ignore spotterFL Report Abuse The market is the market......and screw the speculators! Maybe after the election and OBAMA is gone, we will be able to build the pipeline and get the inexpensive Canadian oil and get lower gas prices. An aside note:Donald Trump says he's heard that OBAMA has a secret agreement with the Saudi's to drastically lower their price a couple of months before the election. Once re-elected, then the Saudi's will let the price skyrocket! [Edited by: spotterFL at 4/8/2012 5:15:27 AM EST]
quasar502 Champion Author Lansing Posts:3,593 Points:803,300 Joined:Jan 2011	Message Posted: Apr 8, 2012 3:05:23 AM Ignore quasar502 Report Abuse Swede is right on.
swede Champion Author Cleveland Posts:3,777 Points:1,677,950 Joined:Feb 2003	Message Posted: Apr 8, 2012 3:01:51 AM Ignore swede Report Abuse They are worried about getting an oil glut like there is a natural gas glut now. If you look at natural gas prices 6 years ago, they were a great deal higher than they are now. They are worried that the same thing might happen to Oil crude prices.
Beau2140 Champion Author New York Posts:8,306 Points:1,659,110 Joined:Oct 2008	Message Posted: Apr 8, 2012 3:00:16 AM Ignore Beau2140 Report Abuse Screwed by the speculators.
DblChek Champion Author San Antonio Posts:2,345 Points:615,245 Joined:Jul 2008	Message Posted: Apr 8, 2012 2:58:48 AM Ignore DblChek Report Abuse "The real solution is either export to Asia or export to the U.S. (Gulf Coast). It's a pipeline constraint issue," Stephenson said. "You're waiting until at least 2013." Suprised? 11-12
fratt Champion Author Grand Rapids Posts:9,835 Points:2,646,880 Joined:Jul 2005	Message Posted: Apr 8, 2012 2:57:31 AM Ignore fratt Report Abuse Get rid of ALL speculators!
WilW Champion Author Atlanta Posts:12,228 Points:2,673,855 Joined:Aug 2004	Message Posted: Apr 8, 2012 2:56:56 AM Ignore WilW Report Abuse Yet the price of gas keeps going up. WTF?
nozzle46 Champion Author Little Rock Posts:6,700 Points:1,474,025 Joined:Jul 2006	Message Posted: Apr 8, 2012 2:37:16 AM Ignore nozzle46 Report Abuse ssnvet, it's not gas taxes, it's rubbing agains the top of world supply.
twobroke61 Champion Author Michigan Posts:8,390 Points:1,590,910 Joined:Sep 2008	Message Posted: Apr 8, 2012 2:35:21 AM Ignore twobroke61 Report Abuse just another excuse
onegiraffeAL Champion Author Alabama Posts:1,015 Points:429,925 Joined:Jan 2010	Message Posted: Apr 8, 2012 2:33:44 AM Ignore onegiraffeAL Report Abuse ok
ssnvet All-Star Author California Posts:608 Points:67,410 Joined:Mar 2012	Message Posted: Apr 8, 2012 2:25:04 AM Ignore ssnvet Report Abuse That's right, the free market at work - high prices of gas means less using of gas. But it is not the fault of the oil companies - high Federal Taxes and local taxes, and Federal Regulations have create these problems.
Blismo Champion Author Arizona Posts:2,144 Points:405,210 Joined:Feb 2012	Message Posted: Apr 8, 2012 2:24:52 AM Ignore Blismo Report Abuse wow
hybridaholic Champion Author Appleton Posts:8,370 Points:1,557,540 Joined:Dec 2008	Message Posted: Apr 8, 2012 2:23:29 AM Ignore hybridaholic Report Abuse Screwed by the speculators no less.
megadiesellv Champion Author Atlanta Posts:1,474 Points:503,585 Joined:Sep 2011	Message Posted: Apr 8, 2012 2:22:41 AM Ignore megadiesellv Report Abuse Canadins one day they are good the next they are not make up your mind ppl.
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Apr 8, 2012 2:22:40 AM Ignore CPGas1815 Report Abuse What a load of crap! It is we fellow gasoline consumers who have been brutalized at the pump.
eromitlab Champion Author Huntsville Posts:7,311 Points:1,451,160 Joined:May 2008	Message Posted: Apr 8, 2012 2:11:11 AM Ignore eromitlab Report Abuse the free market at work, amirite?
wegman Champion Author Twin Cities Posts:7,817 Points:2,090,500 Joined:Jun 2001	Message Posted: Apr 8, 2012 2:08:12 AM Ignore wegman Report Abuse Obama's incompetence causes ripple effects beyond the borders of the US. And he is less popular than Bush the younger was in the Middle East. If the American electorate can find a less competent leader in the Free World than the current occupant, I hope it waits until long after I'm dead.
leemun Champion Author Utah Posts:5,539 Points:1,041,100 Joined:May 2010	Message Posted: Apr 8, 2012 2:03:52 AM Ignore leemun Report Abuse Speculators headin' fer the hills.
76chevy Champion Author Toledo Posts:3,992 Points:770,140 Joined:Jun 2010	Message Posted: Apr 8, 2012 2:01:56 AM Ignore 76chevy Report Abuse obummer has a boot on their neck?
lgwhitlock Champion Author Chico Posts:7,395 Points:1,687,445 Joined:Jun 2008	Message Posted: Apr 8, 2012 2:00:05 AM Ignore lgwhitlock Report Abuse The Canadians are getting less for their oil right now because of transportation issues. The pipeline to the US would have helped but now they need to look at options to export to other partners others than the US. It takes a lot of investment to reap the rewards...
Pozole Champion Author Portland Posts:9,608 Points:1,596,470 Joined:Mar 2005	Message Posted: Apr 8, 2012 1:53:06 AM Ignore Pozole Report Abuse ...wannnh...