Quote:
Originally Posted by Deer Hunter
Even though the US shale guy has more debt, they have a president who respects the business and wouldn't see the entire industry go belly up with out a fight. He will likley offer some sort of bailout financing.
Canadas oil companies on the other hand have no one to help. Our Prime Minister wants to rid the country of oil. And the majority of the people in Canada enjoy cheap fuel even though the entire economy is circling the bowl. Kenny may need to kick in some sort of funding but he really has no money to play with. Let's hope the global supply shrinks quickly due to price and 30$ oil is shortlived, regardless of the corona virus decrease in demand.
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Hard to bailout finance if the industry is uneconomic. If cheap oil for long, demand will rise and it will go back up as well. 6-12 months and we could have better prices than we entered this with.