Read this article by Daniel Tencer in Huffington Post about the effect of declining energy prices on Canada’s oil and gas industry. Excerpt: “‘If oil prices get to a point where they are going to deter investment in the [energy] sector, the negatives outweigh the benefits,’ TD Bank economist Diana Petramala told the Globe.
“That scenario — unthinkable just a few years ago — may be exactly what Canada’s natural resource sector may be facing. And it’s not just a temporary blip in prices Canada is facing — it may be a permanent and revolutionary shift in energy extraction that makes Canada’s oil sands far less desirable than they seemed until now.”
Read more: http://www.huffingtonpost.ca/2012/07/25/canada-oil-gas-shrinking-profits_n_1702807.html