So three days after the Alberta NDP released its attack budget, Husky Energy announced it’s going to sell many of its Western Canadian oil and gas businesses — to get out of what it can.
And it announced that it’s already laid off 1,400 workers.
That’s incredible. In the last 72 hours, Shell, Cenovus, MEG, Devon and now Husky have announced nearly 5,000 people laid off. 5,000 families without work. It’s shocking, it’s depressing, and it’s just the beginning.
Now, there will be people who say that this isn’t the NDP’s fault. It’s the fault of low oil prices.
And it’s true, oil prices are low. But they’ve been at fifty bucks, or less, for 12 months now.
The companies I’ve just listed were saying all systems go on their Alberta projects as recently as July.
What changed this week was that the NDP actually went through with their threats, in the form of their budget. And so the industry has gone on strike — it’s called a capital strike.
Look at what Husky did. They only dumped their Alberta businesses. They didn’t dump their Asian businesses.
In fact, in the very same press release they specifically list the places they’re very eager to invest more — places like Indonesia, and the South China Sea.
Don’t tell me it’s low oil prices. It’s Rachel Notley’s war on the oil patch. Husky Energy will go to places where companies are better treated — including off the coast of Communist China.
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