Is this a sign the cabal of oil giants is driving the smaller (but still massive to you and me!) 2nd level players to the wall to take them over and gain an even tighter monopoly on the bubblin' crude??
But beneath the surface is a rapidly-changing global energy industry. With the U.S. rapidly developing its shale oil and gas deposits, Asia increasingly looking to renewable energy, and the controversy over the environmental impact of the oil sands showing no signs abating, Canada’s energy exporters could find themselves in a seemingly unthinkable situation: Lots of oil, and few markets to sell it.
Or did Canuckistan do something to persist off TPTB and so they have to be bought back into line -
All this is happening just as Canada’s dependence on energy exports has been reaching new heights. As the Globe and Mail reported, oil and gas sales, as well investment in oil sands infrastructure, accounted for one-third of Canada’s economic growth in 2010 and 2011.
(visit the link for the full news article)