Brian Zinchuk: Forty billion in oilpatch CAPEX sounds great, until you realize it’s half of what was spent in 2014

Brian Zinchuk: Forty billion in oilpatch CAPEX sounds great, until you realize it’s half of what was spent in 2014

Back in the lofty, pre-Justin Trudeau government days of 2014, back when oil was booming, pipelines were planned to east and west coasts, and Alberta and Saskatchewan were swimming in money, around $81 billion was spent in capital expenditures (CAPEX) in the Canadian petroleum industry. In Alberta, alone, the number topped $60 billion. And British Columbia and Saskatchewan got their share, too. Even Manitoba was seeing investment.

On March 1, the Canadian Association of Petroleum Producers (CAPP) forecast CAPEX of $40 billion, which is just about double the disaster year of 2020, but half of 2014. And that’s before #justinflation. What would it be if we had a federal government supportive of the industry, instead of trying to make it disappear?

Ken From: Norway: Canada who is the climate hypocrite?

Ken From: Norway: Canada who is the climate hypocrite?

Norway is seemingly a paradox: they want to be at the forefront of international efforts to address climate change, yet the country aims to cash in on oil and gas for years to come. Norway’s centre-left government has said its lucrative oil and gas sector will be...

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