The short-lived oil price war and demand destruction caused by COVID-19 has put the Canadian oil and gas sector under significant pressure.To continue to be a source of prosperity for Canadians, the industry needs to be more profitable. Minimum thresholds for investment need to go up. It is not enough to assume a bounce in commodity prices will ‘save the day.’ Better resource allocation at the industry level is the only way forward, and failure to do so (quickly) is likely to lead to continued low returns, threatening the long-term viability of the industry.
Race to Net Zero – who is leading the effort