One if the biggest issues is that of a local solution not a global.
Canada has always had and always will have a resource based economy. Untill we plan for that and openly admit that is what we are we will always have dramatic down turns that effect us substantially.
What we should be doing is planning as a country, not spending every dollar and then some made off natural resources revenue. That includes mining, forestry fishing, oil and gas etc. That money should be split into a emergency fund and general fund. Not all spent as general revenue.
No matter what resource you go after, fish, trees, oil, gas, coal, gold. The easy stuff is gone. The cost of doing business is up if we want to keep producing at the rates we have or even increase.
The glut of Oil and gas is due to the increase in production world wide. Not just here and the US.
The days gone where a well is drilling perfed and flowed at insane rates in most areas.
Interesting on numbers.
I wonder how those wells up north are flowing, yes initial drilling and stimulation costs are up. The easy stuff is gone. But some of those wells are flowing extremely high rates and have been for a few years. How do those numbers compare to the vertical wells?
I am not sure but since horizontal wells have been introduced especially in the fluid bearing formations the production per well have gone up. At least that's what the operators have noticed.
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