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Friday, July 29, 2016

I just Don't Get It

There is a finite amount of oil in our earth's crust. Yes, folks may quibble about the actual volume....but there is a good consensus  that there is a REAL and DEFINITE measurable quantity of oil worldwide, which will eventually run out.

So, what I really don't get.....is even with all the haggling of OPEC and other oil producers, why hasn't the price of oil stocks bounced back?
Suncor,  (TSX:SU)    is still stuck at under $36 per common share as of today.....at $35.19 cdn.

Perhaps the stock market has become naively obsessed  with electric vehicles, without realizing that a significant chunk of our electrical grid is still powered by the oil and gas industry.

I've done a post or two about that before. Electric powered "anythings" are not necessarily green. It's all about what is used to create the electricity we will all be using.

As of 2014, 8.7% of Ontario's electrical grid is powered by the oil and gas industry. Yes, tis true.


For a break down of Ontario's Energy Mix....take a gander at this document:
http://www.ontarioenergyboard.ca/oeb/_Documents/Regulatory/2014_Supply_Mix_Data.pdf

Do you have some profound views about the lagging state of oil and gas stocks?

Eager for your feedback,
Thinkfully yours,
Carla.



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