Chris Schwarz/Canwest News ServicePipelines carry steam to Suncor's oil sands operation north of Fort McMurray.CALGARY - "Canadian oil and gas companies are ripe for becoming merger bait -and we're not talking about the small and medium-sized shops." Carrie Tait, Financial Post
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Crude Oil Daily Chart
Crude oil breached $70.00 today. The question of how low crude oil will go is on every one's mind again. Crude oil went too high and it will go too low. If you are long oil companies I would stay there and wait it out.
The oil majors have billions of dollars in cash from the $140 oil days, and with the depressed prices they will be out shopping. The oil business is going to consolidate some more and right now Canadian oil companies’ look like Angelina Jolie at an all boy’s school.
1 comment:
yeah! its much better,
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