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Canada’s oil fate at stake with the crisis

The collapse in crude oil prices in the middle of the pandemic is the latest blow to Canada’s oil industry, the world’s fourth largest producer of black gold. So hard, in fact, that the media is rushing to the bedside of this nerve center and wondering if it should be injected with public funds to keep it alive.

The statement by Green Party leader Elizabeth May that “loil is dead ” and his “heart bleeds for people who believe that [ce secteur] will come back”, aroused strong reactions.

“No, the oil is not dead”, replicate it CBC, which specifies:

Although renewable energy is the fastest growing energy source in the world, the use of fossil fuels is expected to increase further in the next 30 years.. ”

Its industry will, however, need Ottawa’s help to stay alive, the public network argues. Canadian government reports Radio-Canada, May 11 announced aid in the form of loans to large companies with sales of over 197 million euros to help them weather the Covid-19 crisis. But the discomfort is deep.

The worst crisis in forty years

Canadian industry, agency says Reuters, undergone for five years “Existential threats that have torn the weakest companies to pieces,

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Martin Gauthier

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