hey Bruun

fair is fair,a few of us who post the positives are aware of Connachers shortcommings,but dont resort to lauding management but rather are coerced into defending same,management is in control so yes they must answer for mistakes,Hindsight is just that ,when production was cut I thought it was a good move,sure it has since been proven wrong once the bottom that was forecast did not happen,OPEC cuts production all the time when they feel they are not getting fair value,here in Canada we are locked into the price we get by the elephant accross the border,Canadians are obligated to providing 80% of production to or neighbor,God help us if we ever need more than the 20% we are left with (we use less than 10%)if it were up to me the USA would be paying a lot more for a DEPLETING commodity,now I, not naive I also know that there wouldn't be near the Oil industry without the backing and investment of Uncle Sam.

IMHO the production cuts and hedges were a good move AT THE TIME THEY WERE IMPLEMENTED.