Nice charts again Sharky.

I like the way Connacher's presentations always include three scenarios for netabacks: the last one plots WTI at $45, $65 and $95. I thought these were conservative, but maybe not. In any case it would seem like lower oil ppb wouldn't be reason to panic.

I also appreciate the consistency between presentations allowing for comparison over time. I noticed on the last one they included a little qualification about the refinery expansion. I got a little smile from that.