Quote:
Originally Posted by Weitz
Prolonged time over $75?
Not anytime soon.
I think there are fundamental changes coming to industry in regards to liability's and creditors that is going keep Alberta from being a hot economy again for quite some time.
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Agreed, also the WCSB is a natural gas basin primarily. When people talk about the price of oil, oilsands oil which is trapped as no capacity enhancements are on the horizon and egress expansion is stalled significantly, what we really need to be talking about in terms of a true revival is the price of natural gas and liquids. Nobody ever cites the price of AECO on here and it makes no sense. There's an entire other commodity just ignored on this site in these conversations. It's bizarre.
Oh, and the answer is next winter things will get better, gas will rebound as we will have a cold winter due to a potential La Nina effect and large storage draws. Also agree with Q, we are in a new economic reality... service firms are getting it, there'll be a trickle down effect on salaries, bonuses and expectations in E&P's too.