Once again, for me personally, the price of oil right now doesn't change my view on CVN. It's still in the ground. It's strange that the market values oil companies on the price of oil that changes on a daily basis against oil that won't be extracted for a while to come.
I can't copy and paste on this dumb HC app, but only in May were the Aust federal saying we are at low reserves and 90% of aust oil comes from the Middle East for refinery in Singapore. We closed 3 of 7 domestic oil refineries here and our supply is low.
I for one and sick of paying $1.72 for a litre.
So my fingers are going to be all over this pie because even though the price is down and I'm slowly averaging out - the oil isn't leaving. They've found it. It's there. They're looking for more. And this is what I tell myself to help me sleep at night.
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Once again, for me personally, the price of oil right now...
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