If we had to put a title on this quarter’s energy commentary, it would be: “Canada the Unloved!” The CDN S&P/TSX energy sub index was down 6.2% for the quarter. Digging deeper into the numbers however, the weakness was much worse. Excluding the pipelines and midstream companies from the energy sub index, the remaining 36 oil and gas producer and energy services providers dropped an average of 14 percent. It gets worse! The bottom 18 companies of the 36 dropped anywhere between 15-34%!