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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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kcboy
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Message Posted: Apr 7, 2012 11:55:57 PM

ok
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Double_Golden
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Message Posted: Apr 7, 2012 11:55:22 PM

ok
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Road-Runner
Champion Author Denver

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Message Posted: Apr 7, 2012 11:55:03 PM

Sounds like the Canadians are being brutalized by Obummer's War-on-Carbon!
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NOTSOGRN
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Message Posted: Apr 7, 2012 11:54:22 PM

.
.
Feel free to send even more down here we love a sale price.
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tampacrvdriver
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Message Posted: Apr 7, 2012 11:50:38 PM

Okay.
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dlzastera
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Message Posted: Apr 7, 2012 11:49:16 PM

Americans love Canadan oil
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tasha88CA
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Message Posted: Apr 7, 2012 11:49:05 PM

ok
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bra0712
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Message Posted: Apr 7, 2012 11:45:24 PM

Oh
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Tundralimited2009
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Message Posted: Apr 7, 2012 11:45:16 PM

Interesting
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rodzilla123
Champion Author San Diego

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Message Posted: Apr 7, 2012 11:43:20 PM

I wouldn't be too concerned. Oil Stocks will be a good investment for years to come!!!!
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yonasb
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Message Posted: Apr 7, 2012 11:42:07 PM

Ok
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72_Monte
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Message Posted: Apr 7, 2012 11:41:56 PM


To heck with 'em.

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KrsnaDragon
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Message Posted: Apr 7, 2012 11:41:38 PM

Speculation breeds despair.
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jimgraham
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Message Posted: Apr 7, 2012 11:36:16 PM

Time to start buying those stocks.
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bobdec
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Message Posted: Apr 7, 2012 11:33:21 PM

this is due to greedy companis and specuatore
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Point__man
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Message Posted: Apr 7, 2012 11:28:08 PM

seems this would be a good thing for the Canadian consumers ;)
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min_fuel
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Message Posted: Apr 7, 2012 11:26:44 PM

Good point kd5kpd. I was wondering that as well. If the oil is 'cheap' why are prices high. I think one good reason is there is no easy way to get it to the refineries. Obama killed the Northern section of the Keystone XL pipeline, so Canadian Oil cannot get to Gulf coast refineries, and the Bakken Oil i N / S Dakota and Colorado cannot get there easily either. All part of the Obama plan.
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roadrunnin
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Message Posted: Apr 7, 2012 11:24:37 PM

i'm sure that will change once the pipeline is complete, then they will be exporting all over for higher profits than they can make selling to us, so look out usa here come higher prices.
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dave1745
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Message Posted: Apr 7, 2012 11:23:48 PM

hmm
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Sisu58
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Message Posted: Apr 7, 2012 11:23:44 PM

What do they know that we don't?
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kd5kpd
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Message Posted: Apr 7, 2012 11:21:21 PM

If their oil is so cheap why are fuel prices so damn high?
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roadrunnerMO
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Message Posted: Apr 7, 2012 11:18:24 PM

They will survive but will we with the idiot we have in washington?

Vote obama out of office in 2012. Our countries survival depends on it.
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wz
Champion Author Twin Cities

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Message Posted: Apr 7, 2012 11:18:13 PM

Calgary oil producers are getting "brutalized" with discounted prices.
Refineries are closing due to low margins.
Yet we are paying near record prices for gasoline.
It doesn't add up!
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5Golfer8
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Message Posted: Apr 7, 2012 11:17:46 PM

Greed is what controls the market nothing else.
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NemoIL
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Message Posted: Apr 7, 2012 11:16:42 PM

Too bad the keystone pipeline was cancelled by Obama, we could use cheap Canadian crude.
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ILVET
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Message Posted: Apr 7, 2012 11:15:06 PM

Good post dh0770
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TBONE3
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Message Posted: Apr 7, 2012 11:14:37 PM

Thanks for the insight you gave on the situation, rx7racerca. I appreciated it!
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windows7isfast
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Message Posted: Apr 7, 2012 11:14:01 PM

WOW
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dh0770
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Message Posted: Apr 7, 2012 11:11:45 PM

That's because the Wall Street speculators are busy gouging us with crude oil, when they think there is no more money to steal in oil futures they'll run back to oil company stocks and hide until they can gouge again!
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Zonk
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Message Posted: Apr 7, 2012 11:11:04 PM

Canadian oil prices have dropped but, it's too early to be concerned.
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TXGasPriceSpy
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Message Posted: Apr 7, 2012 11:10:31 PM

Ok or is it?
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BWJM
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Message Posted: Apr 7, 2012 11:08:34 PM

ok
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rx7racerca
Champion Author Calgary

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Message Posted: Apr 7, 2012 11:07:38 PM

Ironically, in a time of high prices, a lot of Canadian producers have lost serious capitalizaton thanks to the prolonged low prices on Canadian crude. That limits the amount of exploration and development Canadian producers can do, and makes them vulnerable to foreign takeover.
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tessnlu
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Message Posted: Apr 7, 2012 11:05:26 PM

ok
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rx7racerca
Champion Author Calgary

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Message Posted: Apr 7, 2012 11:04:30 PM

afghaned - Ontario refineries don't get these prices because they import crude from Europe - no pipelines from the west to southern Ontario or points east.
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Ron77095
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Message Posted: Apr 7, 2012 11:03:53 PM

Ok.
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RENEGADEGAS
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Message Posted: Apr 7, 2012 11:03:38 PM

HAPPY EASTER EVERYONE!! May the joy of our Savior Jesus Christ's resurrection fill your life with happiness and peace! He is Risen! He is risen indeed!!
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HYEgasCA
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Message Posted: Apr 7, 2012 11:01:58 PM

k
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GRUMPY55
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Message Posted: Apr 7, 2012 11:00:55 PM

ok
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1fulltank
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Message Posted: Apr 7, 2012 11:00:33 PM

Every one is concerned, except the fat cats.
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viperND
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Message Posted: Apr 7, 2012 11:00:02 PM

gas $2 yet?
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shores4now
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Message Posted: Apr 7, 2012 10:57:15 PM

ok
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yonasb
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Message Posted: Apr 7, 2012 10:57:01 PM

ok
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afghaned
Champion Author Ottawa

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Message Posted: Apr 7, 2012 10:51:55 PM

Then why are refineries complaining about high oil costs? Our Canadian refineries should be happy with the lower cost.
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