Commentary – The Oilmageddon of 2015
Photo: Peter Tertzakian
Canadian oil and gas industry associations have delivered their outlooks for the coming year. Their forecasts are pretty grim. Job losses in the thousands, private and public sector budget cuts, drilling rigs banging against each other trying to find a parking spot. Realistically, the publicly published numbers are optimistic. Read more
Commentary – The Art of Winning an Oil Price War
Source: www.Dreamstime.com © Aremac
The price war rages on. Barrels of oil, lobbed into the world’s well-supplied market, are now worth less than $50 a piece.
Producer factions are reporting their casualties. Multi-billion-dollar budget cuts. Multi-thousand employee layoffs. Hundreds of rig releases. Major project delays. And it’s only just begun. There is no mercy below $50. Read more
Commentary – Two-for-one Pizzas, One-Dollar Airline Tickets and $40 Oil
Source: www.Dreamstime.com © Photopal604
I’m watching the screen. Every dollar knocked off a barrel of oil shakes the market like a mortar shell. This is war. World war. It’s a price war between the corporate foot soldiers of major oil producing nations.
Oil prices have halved in three short months and the early casualties are starting to come in. Severe budget cuts. Wounded bank accounts. Bankruptcies. Shell shocked bankers. At a national level, some producing nations like Venezuela are already limping. The fog of this price war has just set in and it’s hard for stakeholders in this business to see much beyond a lot of pain. Read more
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