May 2016, Vol. 243, No. 5

Features

Do Canadians Want To Stay In The Oil Business?

The Canadian oilpatch is facing unprecedented challenges from uncontrollable forces outside its borders where oil prices and the vast majority of supply and demand are determined. There are a variety of variables. A light tight oil boom in the U.S. adding production in volumes not so long ago thought of as impossible. The changing behavior of OPEC, particularly Saudi Arabia, from price support to market share. Domestic strife or poor government in oil-rich countries like Iraq, Libya, Venezuela or Nigeria. The end of international sanctions against Iran and a slowing economy in China. Canadian oil managers and workers follow the news, adjust their business as required and roll with the punch

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