Quote:
Originally Posted by calculoso
No choice for the O & G companies? Hardly. It's a global market and if it is too expensive to get the Oil / Gas here, they'll find it somewhere else - Russia? Middle East? etc.
Yes, the Oil and Gas is here, but there is absolutely no reason why the companies have to get that oil now. If it is too costly to get it now, they'll wait until later, capping wells, shutting down production, and leaving it until later. As mentioned in this article (which I have not completely read, just found it while searching for something else):
http://www.sfgate.com/cgi-bin/articl...G46CMUPL60.DTL
As illustrated by this quote, companies had already waited for 30-40 some years to get the oil... if they have to wait another 20, they won't hesitate.
Then again, maybe that is Dion's Green plan... make the cost of a barrel of oil too high for the Oil Sands to be profitable, to stop the "ecological destruction", with no care for the economy.... |
IIFC during the NEP years, a lot of oil companies stopped exploration and extraction and laid off all non essential personal and did the bare minimum to survive. Now more then ever oil and gas exploration is a more global market, a lot of the super companies will spend money else where in the world if it becomes a situation of it not being worth it to produce in Canada.
You'll end up with a bunch of administrative offices and a lot of oil workers either out of work or brain draining Canada to go elsewhere.