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
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
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
Photo: Peter Tertzakian
Love ‘em or hate ‘em, it’s that time of year when listicles breed on every digital device we own. As December turns to January we can’t avoid listicles that feed us inconsequential niblets of knowledge like, “The 10 Best Coffee Beans for 2015,” or doom-and-gloom assertions such as, “Five Reasons Why Oil Prices Will Go to $20.”
But Christmas and New Year are supposed to be happy times. So, we’ll join the fray by offering a positive listicle; how about, “The Top 10 Reasons to Invest in the Canadian Oil and Gas Industry.” Read more
