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No water, no oil: How the parched western provinces could hamper the oilpatch

April 4, 2024

No water, no oil: How the parched western provinces could hamper the oilpatch Water shortages could have devastating effect on oil and gas sector, says new report Pumpjacks pull oil from the ground near Three Hills, Alta. Limited water supply could have significant effects on the production of oil and gas, warns a new report. […]

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Impatient Banks: A Real Red Flag For The Oil Patch

March 31, 2016

Impatient Banks: A Real Red Flag For The Oil Patch Lenders to the oil and gas industry have been extraordinarily lenient amid the worst downturn in decades, allowing indebted companies to survive a little while longer in hopes of a rebound in oil prices. But the screws are set to tighten just a bit more […]

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JPMorgan Just Sounded a $500 Million Alarm Bell On America’s Dying Oil Patch

February 23, 2016

JPMorgan Just Sounded a $500 Million Alarm Bell On America’s Dying Oil Patch Back on January 14, we noted that JPMorgan did something they haven’t done in 22 quarters: the bank increased its loan loss provisions. The “reserve build of ~$100mm [is] driven by $60mm in Oil & Gas and $26mm in Metals & Mining within […]

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“Canadians Should Be Concerned” As Energy Sector Job Losses Spike To 100,000 This Year

December 22, 2015

“Canadians Should Be Concerned” As Energy Sector Job Losses Spike To 100,000 This Year It’s grim up north… and getting grimmer. Amid soaring suicide rates, Canada’s once-booming oil patch is rapidly accelerating its downward trajectory. “Canadians should be concerned in times like these,” warned Tim McMillan, president and chief executive of the Canadian Association of Petroleum Producers, noting […]

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“It’s A Bloodbath” – Here Is The Biggest Casualty Of Canada’s Recession

November 11, 2015

“It’s A Bloodbath” – Here Is The Biggest Casualty Of Canada’s Recession In the past year, we have extensively profiled the collapse of ground zero of Canada’s oil industry, Calgary, as a result of the plunge in the price of oil, in posts such as the following: “Canada Crude Contagion: Calgary Home Prices Drop Most […]

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It Gets Ugly in Canada

August 3, 2015

It Gets Ugly in Canada “It’s an election about who will protect our economy in a period of ongoing global instability,” Stephen Harper, Prime Minister of Canada, announced on Sunday as he officially kicked off the campaign for the federal elections on October 19. He’d just asked Governor General David Johnston to dissolve Parliament. “Now is not the […]

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Chicken Little Meet the Friends of Science

June 29, 2015

Chicken Little Meet the Friends of Science Canada’s leading climate conspiracy theorists, the Friends of Science, are out this week with a critique on climate change that would make even Chicken Little blush. In a press release issued Thursday, the Friends of Science state that if plans proceed to move our country away from carbon-intensive fuel sources like oil and coal, “Canada […]

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Another 5,000 Victims Of The Plunge In Oil Prices

February 9, 2015

Another 5,000 Victims Of The Plunge In Oil Prices Yet another energy company is struggling to save money in the face of unexpectedly low oil prices. Weatherford International, one of the world’s largest oilfield services company, will cut 9 percent of its global workforce in the next two months to save more than $350 million […]

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