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Trudeau's Election Makes Canadian Oil Stocks Look Even Worse

Everyone now knows just how tough it's been to be in the oil business. With oil prices now half of what they were a year ago, all of the oil companies are feeling the pinch of lowered profits.

But perhaps none are feeling the pain quite as much as the Canadian oil companies dedicated to oil sands extraction and processing. They remain on the bottom of my list of recommended stocks.

That's because the costs of mining the tar-like bitumen and then converting that almost asphalt-like material into crude oil makes oil sands one of the most expensive type of oil to produce. We've also been made aware of the particular environmental challenges that oil sands production is faced with because of the Keystone XL pipeline controversy.