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Author: tim443 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 63935  
Subject: Re: PWE slump Date: 11/14/2012 6:52 AM
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white

Probably not the only problem but PWE is currently somewhat a victim of the current hype about the US badly named 'Fiscal Cliff'. It is heavily owned in the US and the talk of a dramatic increase in taxes on Dividends and capital gains taxes has people unloading it until there is some clarity.

I own a lot of it bought in 2009 in DRIP mode in wife's TFSA. I keep ending up with a whole lot more shares every quarter but probably really should keep a closer eye on it.

Another problem for all of our western crud producers is the discount on WCS (Western Canada Select) due to the glut in Cushing? We really need to find an non-US outlet for our oil or continue to suffer the lower prices.


Tim

<<<Read and Weep>>>
http://www.albertaoilmagazine.com/2012/09/price-discounts-fo...

Why price discounts for Canadian crude are here to stay

Reason #1: A massive amount of oil is flooding a stagnant market

By Alberta Oil Staff

September 01, 2012

The difference in prices companies get for the continent’s traditional benchmark crude blend, West Texas intermediate (WTI), and that of Europe’s Brent blend has consistently been in the US$20 range (in Brent’s favor) for much of 2011 and 2012. But the differential is twice as painful for producers pumping oil out of Western Canada.
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