‘It’s the smart thing to do’: Canadian oil driller moves all its rigs to the U.S. | CBC News
The collapse in oil prices began five years ago, and the oilpatch has struggled ever since. Even when prices have showed signs of rebounding, the sector hasn’t been able to capitalize because of a lack of pipeline capacity to export the crude.
The Alberta government chose to limit oil production to boost
prices and reduce storage levels in the province. The move largely
achieved those goals, but there have been consequences, including a
reduction in drilling activity.