No matter what Trump does it won't lessen the demand for Oil and gas. So unless it makes finance more difficult I don't think the O&G industry will stop production. He may increase the production in USA but a lot of their old Fracced wells will now be non producers and new wells will need to be undertaken. The finance sector of the US economy got their fingers burnt with the earlier Fraccing debacle so they may be more hesitant about throwing cash at the Industry. The lack of exploration which has occurred over the last 10 years will be playing on the minds of the Oil Company exectatives ... a case in point is BP which has made the decision not to proceed with electrification and alternative energy systems and to reengage with O&G. China has just announced that they have discovered an Oil province in the Eastern section of the South China Sea. 100 metres water depth and 450 barrels/day .... not exactly a discovery that would get the juices flowing ..... but it is in shallow water and maybe of sufficient size to drill many wells. I think we are in a rare and privileged position to benefit from WDS walking away.
PCL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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