We've waxed wise on this topic in the past. In fact, if you were paying attention last March, you would have got out while the getting was good, and would be right now sending a nice cash contribution to Falling Downs for giving you the heads up.
Alas, you may not have been paying attention, in which case it may be too late.
Those OPEC folks are flexing their muscles. They're a little pissy about the US fracking industry stealing their market share, and they have embarked on giving that industry an attitude adjustment. The OPEC bigs in Saudi Arabia and UAE and Kuwait have made it abundantly clear that they're more than happy to keep pumping at 40, 30, even 20 dollars a barrel.
Just because they can.
For a very long time.
Which throws a whole lot of Alberta action into question.
Shell just announced a job cut of 300. If our friends in the Middle East are even remotely serious about $30 oil, Fort Mac is fucked.
All those welders from Newfoundland who were making $150k/yr will be heading home.
All those teenage Somali drug peddlers making even more will go home to Toronto.
All those thousand square foot bungalows that were worth half a million yesterday will be sitting empty...
Don't say I didn't warn ya!