Was going to post my speculation yesterday before the nice rise, but now my hunch seems to be reasonable. The price of crude,and the fact that the oil rich Canadian companies cannot fully enjoy the rich price of oil. http://biz.yahoo.com/ap/071025/canada_oil_royalties.html?.v=2 Companys like DNR, (non Canadian) will be where Oil investors put their money. CNQ,SU,ECA, not in favor. Sure liked CNQ, which was downgraded. Hopefully things will change for the oil sands?
>...The price of crude,and the fact that the oil rich Canadian companies cannot fully enjoy the rich price of oil...<
why not? do you really think that the US is going to stop buying reliable Canadian oil, no matter what the price? let's see, alternatives are Venezualan, Iranian, Nigerian oil. now we're talking reliability and cheap prices.