Good Penny Stocks 2010

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Purchasing Commodity Stocks

Investors became much more curious about Canadian oil stocks due to the recent rise in oil prices around the world. There are many oil corporations working in Canada. The great majority of the production and refining , however , is performed by about 20 established firms.

The elevated interest is due not only to the extreme price of oil but also to the availability of oil sands in this particular part of the globe. Just a few years back, exploiting these reserves wasn’t economically possible. High costs have made the oil from these regions economically competitive and have placed the companies working there under the spotlights. Actually profits were down 90% in 2009 due to the crisis. The skyrocketing cost of oil enabled these firms to attain more than $8 billion in profits during 2010.

Heavy Oil and Canadian Oil Stocks

The predominance of heavy oil in the oil reserves of Canada has been to blame for this area lagging behind other areas of the planet in oil profits. This oil produces less serviceable oil in each barrel and is more difficult to refine. Other regions of the Earth, such as West Texas and the Middle East, tend to produce a lighter crude oil which converts easier into gas and other products.

Oil extraction technologies have also improved in the previous couple of years and strengthened the prices of Canadian oil stocks . In 2010, a Japanese team discovered how to process the oil at a faster rate. Interest in improved technologies has increased among all Canadian gas and oil corporations.

Some Popular Canadian Oil Stocks

If you are interested in Canadian oil stocks, here are some examples. They represent a large spread of the oil corporations in Canada. Every one of them have seen money increases in the year. That is generally a good indication which encourages investment.
Suncor has a market capital or even more than $45 billion USD. They have proved reserves of more than 7 billion barrels.
Canadian Natural Resources experienced a $14 bln rise in income in 2011. Their market equity capital stands at more than $40 bln.
Imperial Oil is backed by proved reserves of more than two billion barrels. Their profit in 2011 was more than 2 billion Canadian dollars.
Cenovus Energy has nearly two billion barrels in oil reserves. Their profit in 2011 was almost one billion dollars Canadian. They're another leader among Canadian oil stocks .

Jeff Crosby is a day trader. He writes blogs on his penny stock internet site about the most recent stock market news.

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