There seems to be an understanding that oil price will remain high or will go up .That could be the case but how we see that ?

Have we a short or a long timeframe in mind?If we look to the oil chart it's clear that the recent peak of 145 was probably one that will hold on for quite a long time.The average moving lines or going down and will go trough the 200 MA line.So such a trend will take a while to reverse and to see a spike again which brings us over 145 will take a long time .Don't forget we are in an very bearish situation with the financial sector troubles which will have an impact on consumers ,economy etc..worlwide.

An oil price which could stay in a bandrange for some years could be good for MRC and the SAGD together instead of a continious rising price.Oil price goes up in phases.

I think we will stayin an average around 110 a 120 .

This is a long time chart but not with recent numbers .