Seriously, every morning (even when things were "OK") the venture capitalists on the conference calls would be in an absolute state of panic if the spread dropped a nickel. It was hard to know what they were thinking as far as what infrastructure was actually going to be funded. It was like a hard-core capitalist with A.D.D. went of his Ritalin... EVERY MORNING.
Anyways, production may be still growing, but who is buying it? If pipelines are (allegedly) at capacity and CBR is decreasing... what is going on? It's being trucked to storage facilities to wait out the oil crash?
US refining and consumption is not down.
If pipelines are (allegedly) at capacity
We keep building other pipelines if not the Keystone XL.