Oil Majors Bear the Brunt in Canada’s Energy Stock Rout

Posted by David Logan

Date: October 03, 2020

By Divya Balji and Michael Bellusci

Oct 2, 2020

(Bloomberg) Canadian oil and gas stocks never really recovered from the global financial crisis. They had a bounce in 2009 as the economy improved, but a surge in U.S. shale production sparked another crash in 2014.

The bullish case for Alberta’s oil-sands companies is that they own a unique, long-lasting resource in a politically stable country. Many oil-sands projects may come with eye-watering price tags — witness the C$17 billion ($12.8 billion) cost of the

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