Canadians have spoken for change. After nearly ten years of Conservative rule under Alberta’s Stephen Harper, Canadians voted in a majority rule Liberal government last night, headed by Justin Trudeau.
Bleak metrics to describe the oil price downturn are easy to come by. For instance: the oil price is down almost fifty percent from last year, and drilling rates in Western Canada are about half of last year’s levels.
Although there is wide disagreement on the future price of oil, there are some facts that almost everyone can agree on. First, that oil is an essential commodity (validated by the 94 million barrels of oil consumed in the world each day). Next, that economic growth drives oil demand in a reasonably predictable manner. And […]
The casualties of low oil price are stacking-up. Pink slips are being handed out at alarming rates, oil rigs are lying idle, and the list of cancelled mega projects is growing.
