Tuesday, March 4, 2008

Paul Ziff: The Roots And Future Risks Of Alberta's Gas Recession

Many people talk about an 'oil and gas' industry in Canada - the truth is that the conventional industry is mainly gas now --- the main oil is Oil Sands! Since 1998 gas drilling has surpassed oil drilling activity, with more than two gas wells for each oil well in 2007. Drilling for natural gas, not oil, drives the massive service industry, which stretches all across Alberta, especially rural towns. Figure 1 shows the dominance of gas drilling over the past decade.

Full article here

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