The Future of Crude in the Texas of the North (Trailer)
Posted
May 26, 2015
Views
38,569
Likes
393
Comments
101
Engagement
1.28%
May 26, 2015
38,569
393
101
1.28%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
1:07Now PlayingWATCH THE FULL VIDEO NOW
Canada is the fifth-largest producer of oil in the world. But when the price of oil plummeted in late 2014, the country’s oil-rich western province of Alberta began hurtling toward a recession, with widespread layoffs and historic reductions in drilling activity.
The impact was felt across Canada, too. Crude oil is the country’s number one export, and 99 percent of it is sold to the United States. But in recent years, the US has emerged as a major oil producer in its own right, following a revolution in controversial fracking technology that has increased US oil production and contributed to a global oversupply of oil. Now, Canada's energy sector faces the difficult question of how to meet new markets in a changing global energy landscape.
VICE News visited Alberta, known as Canada’s “Texas of the North," in what is normally high season for drilling — just before the frozen ground thaws — to explore how the bitter sting of low oil prices is affecting the region’s the economy.
Watch "Pipeline NationAmerica’s Broken Industry”
Video Shows Iraq’s Largest Oil Refinery Engulfed in Flames After Battle With the Islamic State”
Read "Prosecutors Consider Criminal Charges in Santa Barbara Pipeline Break”
Read "Shell's CEO Says We Can't Burn Fossil Fuels in an 'Unmitigated Way’”
Read "Canada's Carbon Cutting Pledge Is Criticized for Being the Weakest Among Leading Economies”
Subscribe to VICE News here
Check out VICE News for more
Follow VICE News here:
More videos from the VICE network
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
