It's now a pretty much accepted fact that the price dumpster Canadian crude producers —along with their global brethren—find themselves in is both deeper and harder to climb out of than any they've been in over the past 35 years or so. Way back in the good old days —late October 2014, to be exact—the Petroleum Services Association of Canada (PSAC) projected the industry would drill more than 10,000 wells in 2015. (Keep in mind this was before Saudi Arabia decided to teach those dastardly shale oil producers in the U.S. a lesson and refused to cut its own production to support global prices.)
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