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Encana to cut workforce another 20% on top of earlier downsizing
Encana to cut workforce another 20% on top of earlier downsizing Calgary-based oil and gas producer reports 4th-quarter losses of $612M Doug Suttles, CEO of Encana Corp., speaks to reporters in Calgary in 2013. The Calgary-based company announced on Wednesday it’s planning a further 20 per cent reduction in its workforce to achieve up to […]
The Danger Of Low Oil Prices For The Global Economy
The Danger Of Low Oil Prices For The Global Economy Oilprice.com wanted to check in with Dr. John C. Edmunds, a Professor of Finance at Babson College, to get his thoughts on the OPEC deal, oil markets, and some developments in Latin America. He is an expert in international finance, capital markets, foreign exchange risk, and […]
First Iran, Now Iraq Refuses To Commit To Oil Production Freeze
First Iran, Now Iraq Refuses To Commit To Oil Production Freeze For all the euphoria about the proposed OPEC oil production freeze deal, the reality is that nothing has been actually decided. As readers will recall, the only “decisions” agreed to between the Saudi and Russian oil ministers were to cap production at already record […]
50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills
50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills It was just last month when we profiled Canada’s “other problem”: record high household debt. Canada is struggling to cope with falling crude prices which have put enormous amounts of pressure on some parts of the country, most notably Alberta, where suicide […]
Peak Oil: Just A Distraction Pt 2
Peak Oil: Just A Distraction Pt 2 In the end, does the choice of words really matter? The “Yes, we’ve reached Peak Oil” versus the “No, we have not” is a distraction—and I’ve done my part to contribute. But without recognizing and accepting the simple truth that we’re drawing down a finite and depleting resource […]
A Market Collapse Is On The Horizon
A Market Collapse Is On The Horizon What is ahead for 2016? Most people don’t realize how tightly the following are linked: 1. Growth in debt 2. Growth in the economy 3. Growth in cheap-to-extract energy supplies 4. Inflation in the cost of producing commodities 5. Growth in asset prices, such as the price of […]
Widespread Credit Downgrades Likely For Oil Producing Countries
Widespread Credit Downgrades Likely For Oil Producing Countries Plenty of oil commodity producers are in trouble, and that includes more than a handful of countries whose economies are heavily dependent on oil, gas, and other natural resource exports. In the 1980s, a wave of defaults swept emerging markets, with a large portion of the blame […]
Moments After Oil Crashes To 12 Year Lows, “OPEC Headline” Sends It Surging Again
Moments After Oil Crashes To 12 Year Lows, “OPEC Headline” Sends It Surging Again Seconds after Oil hit the lows and NYMEX closed – and S&P broke the critical 1812 level, this hit: *OPEC READY TO COOPERATE ON CUT, UAE ENERGY MIN SAYS: WSJ Here is the source: Summer Said ✔@summer_said OPEC is ready to […]
Oil Glut Compounded By Cracks In Global Economy
Oil Glut Compounded By Cracks In Global Economy Will oil go below $20? Jeffrey Currie, the head of commodities research at Goldman Sachs, said on Bloomberg TV on Tuesday that he wouldn’t be surprised if oil dipped “into the teens.” That would upend the financial prospects for a lot of oil and gas companies. In January, Moody’s […]
Husky layoffs confirmed as Calgary company continues cost-cutting
Husky layoffs confirmed as Calgary company continues cost-cutting Latest round of cuts hits Alberta’s energy industry as oil prices remain low More job cuts were announced for Husky Energy on Tuesday as the company looks to weather the current downturn. (CBC) Calgary-based Husky Energy says layoffs were announced today to ensure the company’s resilience during low oil […]
Falling Oil Prices Not the Reason for U.S.’s Economic Woes
Falling Oil Prices Not the Reason for U.S.’s Economic Woes Why Should a Decline in Oil Prices be Bad? The dramatic fall in the global price of oil is being cited by the financial press, government officials, and academia as the catalyst for the recent abysmal U.S. economic data which shows that the economy is, […]
Why the Wild Descent of Oil Is Cause for Concern
Why the Wild Descent of Oil Is Cause for Concern Low prices once signalled good news for the global economy. Not this time. Global markets now behave like digital roller-coasters from China to Europe. Oil photo via Shutterstock. The signs of oil’s madcap price collapse are everywhere. Global markets now behave like digital roller-coasters from China to […]
Despite Huge Losses Oil Companies Reluctant To Shut In Production
Despite Huge Losses Oil Companies Reluctant To Shut In Production As energy investors look for reasons to be optimistic, many are keeping close tabs on supply figures. There are some signs that supply is taking a hit from disparate parts of the globe. According to Bloomberg, China might see its output dip by 3 to […]
