Words are fine things, but they are not deeds.
Berman’s views have evolved from sustainable development to “steady extinguishment” of the oilsands.
More than 150,000 dead or soon-to-be dead wells dot the Alberta landscape.
A proliferation of regulations and government interventions have dramatically shaken investor confidence.
Capital investment in Canada’s oil and natural gas in 2017 was down 44 per cent from 2014.
New maritime rules will further devalue oilsands assets.
Asia’s demand for oil will increase to an estimated 6.6 million barrels per day in 2040.
Fort McKay reduced spending and reoriented its business strategy toward income stability.
Since 2015, the Alberta government has increased corporate income taxes, implemented a carbon tax, and introduced more environmental regulations.