No, the O&G sector does not need a bail-out. Certainly not the big companies, which all have the assets to weather the storm. Many smaller players will fail, but when the prices recover, many new smaller players will take their place. And since a bail-out can't raise the price of oil, it won't do anything to create jobs.
What the government should be doing is fighting to ensure the industry can move its product. Notley is an anti-oil, anti-pipeline fool, so that is going to hurt us badly. But maybe Justin will actually demonstrate he does care about Alberta. His comments thus far have not reduced my cynicism on that point either.
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