Sharky:

Bottom line is the economy in Europe and North America continues to be very weak. With high unemployment in the real range of 16 to 17% as per Shadow Stats which measures true unemployment (the way the US Gov used to measure it). Lets face it, people whom are out of work do not consume much gasoline. The rest of the population cuts back on consumption of everything out of fear that they will lose their employment. Business owners fear for their business survival. Meanwhile, the developing world does contribute to a degree of growth but, are not yet ready to offset the net losses in the developed world. Furthermore, what happens when their stimulus plans end? Yes, oil consumption in the developing world will help to offset the reduction in demand from the western developed world. But, totally replace it? Highly dubious! Furthermore, when do they fail to fund their own "bail out" plans?

Meanwhile, Connacher remains in a segment of the Oil Industry which is in a relatively high cost position. Despite the cheerleaders on this board, the fate of Connacher is not certain and remains in question. Were it not so, our SP would not be flirting around the $1.00 level!

Brian