How Low Will Crude Oil Go?

I don't know.

However since this is the question on every one's mind I thought I would ask.

Maybe you can tell me?

As a intra day crude oil trader I don't really care.

As a oil and gas company stock holder I do care.

I only hold one direct producer, EnCana, which I do not intend on selling, and I am looking hard a purchasing another one, Canadian Oil Sands Trust.

It's always hard to buy when everyone else is selling, however a few wise folks tell me that is the key to making money in the stock market.

However those wise folk's cousins tell me never try to catch a falling knife.

I'll continue to mull it over while I wait for you to tell me how low crude will go.

http://www.cos-trust.com/
http://www.encana.com/

This daily chart pic was taken at 11:00 am MST, so far today crude has a low of $100.19.

Oil is an easy target

I am getting very tired of the constant barrage of terror being levied at the oil companies these past few months.

The carbon case for global warming seems to be the lead terrorist in this assault, but now we have the rather bizarre claim that the oil companies are the cause of high gas prices.

This type of "logic" is truly frightening as it exposes the ignorance of anyone who stands any where near this claim.

Imagine life with out oil. Imagine the cost.

The Rainbow Warrior can no longer set sea, Al Gore can no longer fly to his $200,000 dinner speaking engagements, David Suzuki can no longer drive his bus across Canada, you cannot heat your home, your lights don't come on, the car has no fuel, all plastic materials are gone.

Think.

The case to find alternatives is clear, as oil is finite. However while that journey is in progress if you have any economic sense at all, the case to find and produce all the oil we can is also clear.

Click on the read more icon to read Gwyn Morgan's take from his Globe and Mail column.

"My talk focused on a favourite topic - values based leadership. Halfway through the Q&A session came the question ... how could I credibly espouse ethical values given my career in the oil and gas industry?"

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