Some good news though, with the war in Iran the spiking oil price means that Albertan executives can ramp up operations and stay quite profitable! Push the price to 200/barrel and we'll just strip mine the entire province after airlifting out Calgary and Edmonton.
replyThis assumes that there isn't profound demand destruction caused by the stratospheric energy prices.
replyFossil fuels were already an inferior energy source when oil was $60/barrel. Electrification has been moving fast and accelerating, even at the pre-energy crisis prices.
Now? Current events are likely to take fossil fuels out back and give 'em the Old Yeller treatment with surprising speed.