Well, the early going could probably have been a whole lot worse. Lots of Canadian oil stocks are down this morning, courtesy of the costlier new royalty regime Alberta unveiled yesterday, but maybe not as badly as some of the doomsayers were expecting. At the opening bell, the S&P/TSX energy sub index fell nearly 30 points to 3,333.32 at the opening bell, rebounded to 3,382.67, and shortly after 10.15 a.m. EDT was back to 3,349.02, down 10.92. Suncor Energy was down $1.60 or 1.56 per cent to 101.15, having fallen as far as $99.25, for instance, while gas giant Encana was off 10 cents or 0.02 per cent at $64.40, having dipped to $63.6425 cents and Canadian Oil Sands Trust had climbed back to $33.20, down 39 cents or 1.16 per cent, after falling as far as $32.
Down but not out
Globe and Mail Blog Post
Last updated Thursday, Apr. 09 2009, 8:57 PM EDT