70 www.resourceworld.com
D E C E M B E R / J A N U A R Y 2 0 1 9
Oil Patch Report
by Bruce Lantz
After several years of turbulence, the oil and gas sector world-
wide is enjoying a resurgence, with suppliers scrambling to
meet increasing demand – except in Canada.
The roller coaster ride that has come to characterize the oil
and gas sector in recent years isn't over yet, and the federal
government is coming under fire for doing little, if anything,
to stop the bleeding in Canada. Industry leaders say Ottawa's
unwillingness to get behind the industry is causing many
investors to look elsewhere, even to cannabis, while many firms
are reducing their activity in Canada.
While Canada is a good play in the long term, any recovery
depends largely on government, which should offer strong
support not a passive approach, and define the vision for the
sector absent negative legislation such as that surrounding the
Trans Mountain Pipeline and the controversial Bill C-69 which
broadens – and ultimately delays – the environmental assess-
ment process.
"It's up to government, especially the federal government,
to send positive messaging about the Canadian oil and gas sec-
OUTLOOK
2019
Oil & Gas
The US oil & gas sector is flourishing;
however, Canada is lagging and needs
positive government support
PRESS DAY UPDATE
Alberta cutting oil production
go to: www.resourceworld.com
