02.11.2016 - Oil industry teetered 'close to bankruptcy,' but experts see signs of hope
'The industry doesn't work under $50 oil,' says veteran energy investor who sees better days ahead. As the Canadian oilpatch slowly emerges from a two-year price collapse, one investor suggests the industry would have gone belly up if the downturn dragged on for another year. Energy financier Rick Grafton is confident the worst is over. "The last two years has been among the most challenging in the history of the Canadian oil and gas industry. The energy business was close to bankruptcy," said Grafton, the CEO of Grafton Asset Management and co-founder of FirstEnergy..........................................Full Article: Source
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