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.
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.