Canada’s Oil Stocks Are Trading At Bargain Basement Prices

This year, the energy sector has emerged as a standout performer in the U.S. stock market, managing to outperform even the red-hot consumer cyclical sector. The sector's most popular benchmark, the Energy Select Sector SPDR ETF (NYSEARCA:XLE) has rocketed 49.3% in the year-to-date, marking its best performance in more than a decade as oil and gas prices continue taking out multi-year highs. The crazy rally has forced some of the biggest oil bears to do an about-face while other punters already have $200 oil in their crosshairs. However, the American…