I can understand that reasoning in the short term.
Two questions for you.
1. At what point do they break even (CPB)
2. Are we going back to the $90 to $100 dollar CPB anytime soon?
http://www.reuters.com/article/2015/04/17/canada-energy-oilprice-idUSL2N0XE1D620150417
Apr 17, 2015
The price of Western Canada Select, the country’s benchmark crude grade, is trading for around C$55 ($45) per barrel, up nearly C$20 per barrel from its mid-March lows thanks to improved market access and U.S. refinery demand ramping up after seasonal maintenance.
The price rise is balm for an oil sands sector that not long ago was preoccupied with cutting spending and lowering costs.
Though no one is yet forecasting a return to fat profits that producers enjoyed when oil rose above $100, current prices are robust enough to cover costs and push netbacks, an industry term for gross profits per barrel, into the black.
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If I could predict the price of oil, I would have to work for a living. Way too many factors effect the price of oil beyond the oil industry.