Opinion: Rising oil prices a litmus test for Albertaâs commitment to addressing inactive wells The combination of the global decline in investment in the energy industry and a recovery in demand for oil post-COVID are poised to increase oil prices for a period before electrification ultimately reduces oil demand.
Author of the article: Calgary Herald
Publishing date: Mar 17, 2021  â¢Â 4 days ago  â¢Â 3 minute read  â¢Â A de-commissioned pumpjack is shown at a well head on an oil and gas installation near Cremona, Alta., Saturday, Oct. 29, 2016. With oil prices climbing again, it s a good opportunity to tackle the growing problem of inactive wells, say columnists. Photo by Jeff McIntosh /THE CANADIAN PRESS
Opinion: Rising oil prices could spur work on Alberta s inactive wells calgaryherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calgaryherald.com Daily Mail and Mail on Sunday newspapers.
The unemployment rate is falling. Oil prices and industry land sales are climbing.
And there’s a growing consensus stronger economic growth is on the way.
“Just having some light at the end of this brutal tunnel is very welcome,” University of Calgary economist Trevor Tombe said Friday.
One of the most promising indicators surfaced with a new employment report from Statistics Canada showing 16,800 jobs were created in the province in February.
As restaurants and bars were allowed to reopen for in-person service last month, 19,200 Albertans were able to return to work and collect a paycheque in the accommodation and food services industry.
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A municipal council in Alberta Environment Minister Jason Nixon's constituency is the latest in a growing number of communities expressing concern about the province's plan to expand coal mining in the Rocky Mountains.