The Canadian Association of Oilwell Drilling Contractors have released their projections for wells that will be drilled in Alberta in 2017 and it looks like we will see an increase of 1,103.
This might sound like a big increase, but we are still only at 24% utilization.
Rachel Notley and the NDP have been giving themselves a pat on the back for getting over a hundred applications for new drills under their new royalty review, but it’s clear their policies have driven business away since Saskatchewan will out drill Alberta in 2017.
And the worst of their policies is yet to come – the dreaded carbon tax.
This tax will hit the oil and gas industry the hardest since they are emissions intensive and all it will do is drive companies to do business somewhere else where there’s no carbon tax.
Watch as I explain why a carbon tax is going to take the competitive edge from Canadian businesses by driving it to other jurisdictions and in the end, will do nothing to decrease global emissions.
By implementing this tax, the NDP and the Liberals are simply handing business to our competitors.