Canada's Oil Rig Slowdown (Excerpt from 'Alberta’s Boom Time Hangover’)
June 4, 2015
64,427
337
101
0.68%
Search the Record
IndexedEvery 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
Vice News Episodes Around June 4, 2015
See what was published immediately before and after this episode.
2:53Now PlayingCanada's Oil Rig Slowdown (Excerpt from 'Alberta’s Boom Time Hangover’)
YouTube Description
as posted by the channelCanada 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.
In this excerpt, VICE News speaks with the Canadian Association of Oil Drilling Contractors to hear how oil and gas exploration is slowing down, and meets the CEO of a small oil and gas company who is keeping drills in operation on his site, despite the declining oil prices.
Watch “Alberta’s Boom Time Hangover”
Watch "Pipeline NationAmerica’s Broken Industry”
Read "Environmentalists Head to Federal Court in Attempt to Block Shell's Arctic Drilling Plans”
Read "These States Are Telling Locals Not to Get in the Way of Fracking”
Subscribe to VICE News here
Check out VICE News for more
Follow VICE News here:
More videos from the VICE network
Guests & Subjects Covered
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.