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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Some producers 'brutalized' in energy stock sell-off: Canadian crude prices cause concern Back to Topics
REPLIES (newest first) Post a Reply
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NHLiveFree
Champion Author New Hampshire

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Message Posted: Apr 8, 2012 10:16:05 PM


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.
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Ahking
Champion Author Orange County

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Message Posted: Apr 8, 2012 9:43:51 PM

perhaps the middleman is making most of the money.
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rx7racerca
Champion Author Calgary

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Message Posted: Apr 8, 2012 2:27:36 PM

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.
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puinsai808
Champion Author Honolulu

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Message Posted: Apr 8, 2012 11:10:23 AM

I don't agree.
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DanMtz
Champion Author Oakland

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Message Posted: Apr 8, 2012 9:23:35 AM

That's a crying shame.
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Luckylindy
Champion Author Milwaukee

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Message Posted: Apr 8, 2012 5:43:58 AM

Sorry if I have no sympathy for them. I'm getting brutalized at the pump.
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LauraLea5
All-Star Author Ontario

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Message Posted: Apr 8, 2012 5:08:23 AM

Then why are the gas prices still high??
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ReddevilNO
Champion Author New Orleans

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Message Posted: Apr 8, 2012 5:01:09 AM

Good.
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paoli8
Champion Author Philadelphia

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Message Posted: Apr 8, 2012 4:05:07 AM

Too bad
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FieroGT
Champion Author Twin Cities

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Message Posted: Apr 8, 2012 3:50:26 AM

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.
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BazooQC
Champion Author Montreal

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Message Posted: Apr 8, 2012 3:47:32 AM

Well if Canadian Crude prices are steeply discounted ...
why is the price of gas so high then!
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DrivingFool2
Champion Author Appleton

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Message Posted: Apr 8, 2012 3:46:25 AM

About time
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BigDogOH
Champion Author Cincinnati

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Message Posted: Apr 8, 2012 3:45:25 AM

Consumer brutalization
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LogansGasPrices
Champion Author Indiana

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Message Posted: Apr 8, 2012 3:45:11 AM

Happy Easter
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ChristinaCricke
Champion Author New Jersey

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Message Posted: Apr 8, 2012 3:43:22 AM

MMMMMMMMMMMMMMMmmm
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TommyTraveler
Champion Author Cincinnati

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Message Posted: Apr 8, 2012 3:38:21 AM

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.
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WR-INC
Champion Author Twin Cities

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Message Posted: Apr 8, 2012 3:37:26 AM

Steven Chu will see that fuel prices remain high, even if the administration has to tax their way to that goal.
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jimraehl
Champion Author Utah

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Message Posted: Apr 8, 2012 3:35:21 AM

Down is the right price trend.
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bikechuck
Champion Author Indianapolis

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Message Posted: Apr 8, 2012 3:33:40 AM

Finally some 'bubble' busting in oil stocks that have been inflated by speculators. Hope this is a trend that will moderate oil prices.
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Gherk
Champion Author Louisville

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Message Posted: Apr 8, 2012 3:31:48 AM

So what else is new.
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jrschl
Champion Author Louisville

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Message Posted: Apr 8, 2012 3:30:47 AM

Whatever. The cos. have been surviving and will continue to survive.
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harleydoctor
Champion Author Kansas

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Message Posted: Apr 8, 2012 3:30:20 AM

QUICK68- I'll drink to that.........
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Petrock
Champion Author Lexington

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Message Posted: Apr 8, 2012 3:24:59 AM

So could 'brutalized' mean payback for speculators? I sure hope so!
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nurdco
Champion Author Colorado Springs

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Message Posted: Apr 8, 2012 3:23:39 AM

You mean Consumer brutilization....
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neptune2008
Champion Author Michigan

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Message Posted: Apr 8, 2012 3:19:35 AM

and WE pay...for them...again and again
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VetteBlue
Champion Author San Jose

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Message Posted: Apr 8, 2012 3:19:19 AM

Smoke and mirrors.
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DJRIO
Champion Author Miami

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Message Posted: Apr 8, 2012 3:18:16 AM

it is bad government policies and laws that screw up this countries energy 's problems.
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Quick68
Champion Author Columbus

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Message Posted: Apr 8, 2012 3:16:40 AM

Let the government, big oil and the speculators drink their oil.
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SnickersDog
Champion Author Denver

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Message Posted: Apr 8, 2012 3:16:39 AM

Let them fall
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spotterFL
Champion Author Florida

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Message Posted: Apr 8, 2012 3:10:17 AM

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]
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quasar502
Champion Author Lansing

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Message Posted: Apr 8, 2012 3:05:23 AM

Swede is right on.
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swede
Champion Author Cleveland

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Message Posted: Apr 8, 2012 3:01:51 AM

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.
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Beau2140
Champion Author New York

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Message Posted: Apr 8, 2012 3:00:16 AM

Screwed by the speculators.
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DblChek
Champion Author San Antonio

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Message Posted: Apr 8, 2012 2:58:48 AM


"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
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fratt
Champion Author Grand Rapids

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Message Posted: Apr 8, 2012 2:57:31 AM

Get rid of ALL speculators!
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WilW
Champion Author Atlanta

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Message Posted: Apr 8, 2012 2:56:56 AM

Yet the price of gas keeps going up. WTF?
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nozzle46
Champion Author Little Rock

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Message Posted: Apr 8, 2012 2:37:16 AM

ssnvet, it's not gas taxes, it's rubbing agains the top of world supply.
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twobroke61
Champion Author Michigan

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Message Posted: Apr 8, 2012 2:35:21 AM

just another excuse
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onegiraffeAL
Champion Author Alabama

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Message Posted: Apr 8, 2012 2:33:44 AM

ok
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ssnvet
Champion Author California

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Message Posted: Apr 8, 2012 2:25:04 AM

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.
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Blismo
Champion Author Arizona

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Message Posted: Apr 8, 2012 2:24:52 AM

wow
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hybridaholic
Champion Author Appleton

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Message Posted: Apr 8, 2012 2:23:29 AM

Screwed by the speculators no less.
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megadiesellv
Champion Author Atlanta

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Message Posted: Apr 8, 2012 2:22:41 AM

Canadins one day they are good the next they are not make up your mind ppl.
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CPGas1815
Champion Author Michigan

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Message Posted: Apr 8, 2012 2:22:40 AM

What a load of crap! It is we fellow gasoline consumers who have been brutalized at the pump.
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eromitlab
Champion Author Huntsville

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Message Posted: Apr 8, 2012 2:11:11 AM

the free market at work, amirite?
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wegman
Champion Author Twin Cities

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Message Posted: Apr 8, 2012 2:08:12 AM

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.
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leemun
Champion Author Utah

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Message Posted: Apr 8, 2012 2:03:52 AM

Speculators headin' fer the hills.
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76chevy
Champion Author Toledo

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Message Posted: Apr 8, 2012 2:01:56 AM

obummer has a boot on their neck?
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lgwhitlock
Champion Author Chico

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Message Posted: Apr 8, 2012 2:00:05 AM

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...
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Pozole
Champion Author Portland

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Message Posted: Apr 8, 2012 1:53:06 AM

...wannnh...
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