With oil now at a four year low Canada’s energy companies must re-evaluate their position. We’re already producing the world’s cheapest oil and now firms will be faced with lower profits and cash for capital projects will be greatly scaled back. A weaker loonie will of course help with exports but the industry may have to deal with lower prices for some time to come. For now many are philosophical; after all volatile prices are par for the course in the oil business; but some analysts are predicting the lower prices will be here for a large part of 2015 at least.
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