Behind the scenes of the oil shock
So far 2015 has not been a banner year for the energy sector. Budgets have been slashed, earnings are down and jobs are being cut.
The mood in Alberta is tense.
Behind the scenes though, it’s a different story. Opportunities are being sensed, calls are being made, flights are being booked to Calgary.
Bruce Edgelow. vice-president of energy with ATB Financial, says his phone has been ringing off the hook with investors both inside and outside Canada looking to take advantage of the current downturn in the oilpatch.
ATB is a provincially-owned financial institution that lends heavily to Alberta businesses, including many in the oil and gas sector.
Edgelow says the calls have been coming from investors that would like to relieve ATB of some of the riskier loans it has made to the oilpatch.
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