Quote:
Originally Posted by Ronald Pagan
BZZZZZ
OIL BBL DOWN 4.3%
We have a petro dollar dontcha know?
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Did you check any stock quotes before posting this?
Encana, CNRL and Nexen are all up on the TSE
Exxon and Conoco are up on the NYSE
Shell, Total and Statoil are up on their respective international markets.
The drop in the TSX today was NOT a result of oil prices. Heavy oil stocks are down. Why would heavy oil stocks in Canada be down when the rest of oil stocks are up? I think investor uncertainty with a potential unstable government could have a lot to do with it, don't you?
Edit: I should add that I don't think this is the only reason the markets are down. I would however like to bring up one point. What was one of the major driving factors behind the oil sands? A stable government! If you remove "stability" from our government our oil is no more desirable than the incredibly cheap to produce oil in the middle east.