Canada is the only country in the world with such massive ups and downs. The US was still drilling ahead up until a year ago whereas Canada was virtually shutdown in 2015.
I've heard it is because the style Alberta has to use to extract the oil is one of the most expensive methods and needs a price of 60$ a barrel to be worthwhile while the USA primarily fracks for their oil which is much cheaper overall. You also got the government interference to account for as well.
Don't worry 'Berta, Ottawa will siphon off all those profits and hand them over to quebec, the maritimes, and the denizens of toronto.
Then justine will call you all a bunch of jerks for killing the planet.
The oil sands product has been made far cleaner than most think.
When I moved to Alberta and worked in the oil patch, I was cautioned ours would be a boom & bust life. Nothing could be more true than that.
Canada is the only country in the world with such massive ups and downs. The US was still drilling ahead up until a year ago whereas Canada was virtually shutdown in 2015.
I've heard it is because the style Alberta has to use to extract the oil is one of the most expensive methods and needs a price of 60$ a barrel to be worthwhile while the USA primarily fracks for their oil which is much cheaper overall. You also got the government interference to account for as well.