Quote:
Originally Posted by Suave
I agree, $100 oil is not good for anyone long term. It fast tracks a bubble, causes cost inflation and makes alternatives cheaper. I would be very happy with sustained, stable pricing in the $60 range.
As far as outlook for Alberta this year. Looks like it should be slow and steady growth if oil stays at $60, and gas above $2. Most of the majors are under guidance from shareholders to not increase production; Debt, share buyback and dividends are the priority. So most increases in activity should be drill to fill. This will hopefully give time for the service industry to catchup to increased activity level, instead of everyone trying to ramp up at the same time.
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So basically a healthy, mature and profitable O&G industry with decent royalties but not a huge employment growth engine.