A dramatic jump in oil prices linked to the promise of lower global production is fuelling hope that the Canadian oil sector may soon recover from a two-year economic slump.
Observers say they are optimistic that Saudi Arabia, the top exporter in the Organization of the Petroleum Exporting Countries, is committed to cut exports to reduce a global oil glut that has depressed prices and contributed to thousands of layoffs in Western Canada.
This s bad news for a whole bunch of shysters. Here in Hinton the West Fraser mill is pretending that it can make affordable oil from wood celulose and south in wheat country they are pretending they can make bio diesel from straw. Multi millions of dollars have been shovelled in from Edmonton and Ottawa.
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