Quote:
Originally Posted by bizaro86
No, but they're out of date, or at least misleading. There was a huge decreasing in WCS pricing during Q4. For example, Cenovus posts the WCS price monthly on their website here: http://www.cenovus.com/operations/do...y_Averages.pdf
The December price was 360.42 per m3, or $57.31 per barrel. That compares to a price of 551.19 per m3 or $87.64 per barrel in January 2012. That's a pretty big difference. It's also a huge differential, since WTI is $90+.
Also, a Q4 average isn't a good number going forward because the price dropped nearly 30% in Q4 |
According to that the major price drop consisted of one month last year, we are talking about long term pricing. Even with the price drop in December the price has been that low (and lower) off and on over the last few years. I don't see how short term fluxuations in the price of oil are anything we didn't know before the election. If anything we should be looking at quarterly numbers since short term pricing can have big fluxuations.