Grande Prairie figures to have a much stronger 2017, and it’s not just locals saying it. Among the energy rebound, the Montney play looks to be very active and competitive this year. It is also economical enough to compete on the international stage.
The world oil price this 2017 is very likely to stabilize and have a rise, at the same time enters into this equation electric cars that could make unbalance the balance of this non-renewable natural resource. Peter Tertzakian, Executive Director of ARC Energy Research Institute in an interview with the Calgary Eyeopener, said he expects OPEC to maintain its plans to cut global oil production to get a low rise in prices per barrel by the end of this year.
Also, it is quite optimistic about the oil-rich Montney area which is located in northwestern Alberta and occupies 130,000 square kilometers of North America. Another real factor that determines the Montney is that the cost of production is much lower which makes all the products extracted from these deposits is a direct competition with the United States, which in past decades was a high consumer and in the current Moments has become a great competitor.
The entry into the game of the US executive is a factor to be taken into account in the sense that its policies are aimed at maintaining its production and increasing its capacity of competition. In that sense, Tertzakian said literally “It is a call to be more efficient and make sure we do not lose the discipline that our producers have imprinted in the course of the last years.” Click here to read more: