WTI Oil prices are pulling back as oil starts to trickle down the Keystone Pipeline. TransCanada Corp.

The rig count has rebounded from the lows seen in late May, a small indication that crude companies in the U.S. could begin drilling anew.

Well I was coming into Monday with all of these ideas about the big picture.

In the U.S., states are held to a strict balanced budget standard when it comes to fiscal taxation and spending, while the federal government can let the budget go into deficit spending. In Canada, however, it’s the opposite, and the provinces seem to have abused their debt levels, but Trudeau is ready to help.
To date, we have lost about 500,000 BOPD in the Lower 48. We will lose that again before the year is out.
I know we’re in a bit of correction mode this morning, but we’re still a lot closer to $50 than we are $40.
The rolling first crude oil future contract trades to a new four day high this morning and is testing a bearish downward sloping trend line. There appears room for some additional gains.
Business is so tough for oilfield giants Schlumberger NV and Halliburton Co that they have come up with a new sales pitch for crude producers halting work in the worst downturn in years. It amounts to this: "frack now and pay later."

Like everything in trading, all we ask for is a little consistency.

America just keeps on producing oil, despite low prices and a 1970s-era law preventing most oil exports. U.S.