Oil patch belt-tightening obscures true picture
The Globe and Mail
Published Thursday, Dec. 12 2013, 5:29 PM EST
Last updated Thursday, Dec. 12 2013, 5:30 PM EST
From the headlines of the past few days, you could be excused for thinking the Canadian oil and gas industry is on a belt-tightening binge. But the oil patch, like many a wayward country on the euro zone periphery, is not naturally inclined to austerity. Some large and notable exceptions aside, it will take more than a year or two of disappointing commodity prices to quell the industry’s thirst for growth.