| The oil-price crash remains painful and may be far from over, but top oil forecaster Ed Morse offered some hope Thursday to Canada’s gloomy oil industry — a recovery by 2017 as the “weeding out” of uneconomic production runs its course.
Still, Morse’s relative, medium-term optimism has its limits. The rebound won’t mean a return to the heyday of the North American energy renaissance because new technologies that enabled production from the oilsands in Canada, shale oil in the United States, and deepwater fields will continue to change the oil business and keep prices in check. Don’t count, then, on US$100 a barrel oil making a comeback any time soon.......................................Full Article: Source
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