The central bank interviews representatives of 100 businesses each quarter to get a sense of how the economy looks from ground level. During the latest poll, which was conducted in May, policymakers also discussed the state of the oil and gas industry with executives from 13 different companies, along with three energy analysts at charted banks in Calgary.
Labour shortages and supply chain issues have also made investment more challenging and the industry faces significant cost increases. Experts say the reduction in capital spending can be partly attributed to the fact the sector is still emerging and rebuilding from a period of sustained low prices.Article content
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Canadian oil and gas companies slash capital spending by more than half, BoC survey findsBank of Canada business outlook survey finds energy producers are setting aside just 40% of cash flow, down from 100% before the pandemic moneytalkstweet This headline was predicted weeks ago via the MoneyTalks crowd. If anyone actually wants critical economic thinking, I do suggest you listen to this podcast.
Source: VancouverSun - 🏆 49. / 61 Read more »
Canadian oil and gas companies slash capital spending by more than half, BoC survey findsBank of Canada business outlook survey finds energy producers are setting aside just 40% of cash flow, down from 100% before the pandemic Now's the time to make bank. The coming severe recession will reduce the need for O&G. I own O&G shares and I want dividends from them, not production growth. Groper Trudeau and Steven “The Human Fly” Guillbeault have clearly signalled that oil companies are redundant, so why would they invest any $ in new production? Trudeau choked oil and gas industry. If he is not removed soon, we are 3 Rd world
Source: nationalpost - 🏆 10. / 80 Read more »
Canadian oil and gas companies slash capital spending by more than half, BoC survey findsBank of Canada business outlook survey finds energy producers are setting aside just 40% of cash flow, down from 100% before the pandemic Now's the time to make bank. The coming severe recession will reduce the need for O&G. I own O&G shares and I want dividends from them, not production growth. Groper Trudeau and Steven “The Human Fly” Guillbeault have clearly signalled that oil companies are redundant, so why would they invest any $ in new production? Trudeau choked oil and gas industry. If he is not removed soon, we are 3 Rd world
Source: nationalpost - 🏆 10. / 80 Read more »
Canadian oil and gas companies slash capital spending by more than half, BoC survey findsBank of Canada business outlook survey finds energy producers are setting aside just 40% of cash flow, down from 100% before the pandemic moneytalkstweet This headline was predicted weeks ago via the MoneyTalks crowd. If anyone actually wants critical economic thinking, I do suggest you listen to this podcast.
Source: VancouverSun - 🏆 49. / 61 Read more »