Yes Spider you may have some point here.

Slow and easy price changes make it easier for refineries, the spike caught the whole world off guard, not just MRC.

Best thing now would be that oil price stays in a range let's say frrom 110 to 150 for quite some years to come .Then efiners could gain again.In fact that was the behavior of the oil price for years but that pattern changes the last 3 years with this huge run up.

So will we see a new range coming up for some years are will the uptrend pick up again .So far on the oil chart we can't predict the uptrend is broken.Only a major drop below 100 to 110 gives a signal that current spike has come to an end.For refiners this would be good and then they could gain much earnings.

Or we could see a vroadering rane between 110 and 150 as top for a long time and that would be not a bad thing either for both SAGD and MRC.+ economic recover too.