The Canadian oilpatch had a lot on the line heading in the federal election.
Many industry players saw it as a decisive moment to regain some momentum for a sector that’s been stuck in neutral this year, frustrated by a lack of pipeline capacity and largely ignored by investors.
Bob Geddes, president of Ensign Energy Services Inc., said the election outcome will continue the diminishment of the Canadian oil and gas sector and likely lead to less spending and drilling activity going forward if pipelines aren’t built and the sector can’t grow.
The victory of the Liberal party in Monday’s election — returning with a minority government — means many of the biggest issues for the sector haven’t really changed.
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