Photo: ARC Financial
Headcount reductions, wage roll backs and project cancellations—the surge of bad oil patch news keeps coming. To many workers in the Canadian oil patch, 2015 cannot be over soon enough. Read more
Photo: ARC Financial
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. Read more
Photo: ARC Financial
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. Read more
Photo: Peter Tertzakian
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 finally, that demand for a product increases when price drops.
