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Conventional natural gas deliverability will decline by 7 to 15 per cent during 2007-2009 as a result of lower drilling activity, but other sources should fill the gap, agency says ...Read the full article
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Howard Beale from Canada writes: Lower production coupled with lower prices, higher costs and a climbing loonie will lead to reduced corporate taxes and personal income taxes and bring Canada closer to a deficit. Furthrmore if Alberta captures more revenue by increasing royalties, then corporate taxes will fall even more. The milch cow that was the O&G industry is running dry.
- Posted 10/10/07 at 1:41 PM EST | Alert an Editor | Link to Comment
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Dave Hasler from Edmonton, Canada writes: I'm not sure the milk cow is in decline. Unless the magic bullet is right around the corner our world demans still exceeds 85 Million BBD. Coupled to this there is some concern that Saudi reserves are "misreported" and their big field is past it's peak production. All this bodes well for Canada and the future of the oilsands. Gas is down for the moment but a few cold winters will change the demand/price favorably again. Not too worried here other than what we are doing to the environment in the name of oil.
- Posted 10/10/07 at 1:56 PM EST | Alert an Editor | Link to Comment
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D JL from Canada writes: As long as oil stays at $80 , I don't think big oil is leaving Alberta for the long term. A lot of shouting & screaming. But if they can make a profit, they will be there. . Spending may slow. But that might be a good thing. Lets the infrastructure to catch up. But hey, maybe they will expand to Venezuela or Nigeria. Good investment areas.
- Posted 10/10/07 at 11:04 PM EST | Alert an Editor | Link to Comment
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