Quote:
Originally Posted by Brewmaster
WTI above $80/bbl and rising. NYMEX natural gas at $5.50/MMBtu heading into winter. WCS differential hovering around $12/bbl with Line 3 just brought into service. Things haven't looked this good in years for the producers, and likely the best ever from a profitability standpoint.
The days of oil sands mega projects may be gone but the money rolling in is starting to feel like boom times again. When will we start to see this impact wages, real estate, and ancillary business in the city?
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As companies open the purse strings for maintenance and replacement projects I expect we will see a good recovery in overall employment but until/unless there is competition for workers I wouldn't expect higher wages. Without the mega-projects will we see that?
On the plus side this looks like a healthy, mature, and profitable industry for the next while.