As all energy investors know, it has been a terrible year for oil and natural gas companies. Many stocks are down half or more from their 52-week highs. Yet amidst the carnage, one energy group has held up very well - refiners.
Before rushing ahead to double oil sands production -- and sending billions more in de facto energy subsidies to U.S. refiners -- Canadians may be better off if producers figure out how to capture more value from what they're already digging out of the ground.
Atchison Village seems like a great place to live. It's a pleasant neighborhood in California. But there's a downside: this town has a bad neighbor, and it's the third-largest corporation in the world.