Petroleum Services Association of Canada has released a report projecting that 4,175 wells will be drilled in Canada in 2017. Not only is that down 63% from 2014, but out of that total, 1,900 will be drilled in Alberta and 1,940 will be drilled in Saskatchewan.
That may not sound like a big difference, but one rig employs about 145 people, so those 40 extra wells represent 5,800 jobs.
Consider also that Alberta’s 1,900 wells represent an increase of only 53 wells in comparison to 2016 and Saskatchewan’s 1,940 wells represents an increase of 240 wells, meaning a difference of over 27,000 jobs if the NDP had managed to attract investors.
The NDP often claim policies like increasing corporate taxes and insisting on a royalty review wouldn’t affect investments, but we’re seeing the opposite is true in the fallout of those job-killing policies.
Nobody blames the NDP for low oil prices, but judging by these numbers, it seems the perception is that Saskatchewan is simply a better place to invest than Alberta.
In less than two years, Alberta has gone from the best place to do business in Canada for the oil and gas industry, to the bottom of the barrel.
Imagine the destruction that will be created under the NDP until the next election, and the destruction the next party in charge will have to attempt to reverse.