With oil now at a four year low Canada’s energy companies must re-evaluate their position. We’re already producing the world’s cheapest oil and now firms will be faced with lower profits and cash for capital projects will be greatly scaled back.
With oil now at a four year low Canada’s energy companies must re-evaluate their position. We’re already producing the world’s cheapest oil and now firms will be faced with lower profits and cash for capital projects will be greatly scaled back. A weaker loonie will of course help with exports but the industry may have to deal with lower prices for some time to come. For now many are philosophical; after all volatile prices are par for the course in the oil business; but some analysts are predicting the lower prices will be here for a large part of 2015 at least.
