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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: The Election ad Oil
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Oct 31, 2008 11:22AM

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Oct 31, 2008 08:15PM

Oil will not drop that low unless we go from a reccesion to a depression. Even though demand is down it is still higher than last year, long term supply and demand are still out of whack. What we have here is panic selling, margin calls and hedge fund sell off becuase they have to raise $$ to cover redemptions, this is huge $ and driving the step down in prices of Oil and other commodites. Gold will also do well, all the $ flooding the market on the bail out plans will eventually lead to inflation. I do think it will take another year to really get things turned around around, average reccession last 18 months, we are 12 into this one, but it is not average. CLL needs to get Algar up un running, spread cost over more production and we will be fine, but in the mean time no real catalyst for huge $ movements, but remember market is future looking.


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