Canadian activity breaks records

Journal Article · Sat Feb 01 04:00:00 EST 1986 · World Oil; (United States)

OSTI ID:5837849

Maciej, H

The Canadian oil and gas industry has, by any measure, recorded its best year yet. Exploration and capital expenditures rose sharply to new record levels; drilling completions also set a new record and surpassed even the most optimistic projections. Despite uncertainty surrounding oil and gas prices, the outlook for 1986 is for further growth, although it is unlikely that the 1985 growth rate can be repeated. The National Energy Program, when introduced on October 28, 1980, by Federal Energy Minister Marc Lalonde, constituted the most drastic intervention in peacetime by the government in the business of the petroleum industry. The Minister said, ''This is a set of national decisions by the government of Canada. The decisions relate to energy. They will impinge, however, on almost every sphere of Canadian activity, on the fortunes of every Canadian and on the economic and social structure of the nation for years to come.'' It was a political experiment, one that failed. It didn't stand the test of time, because modifications had to be made almost immediately to lessen damage to the Canadian economy and particularly to the economies of producing Provinces.

• Research Organization: Canadian Petroleum Assoc., Calgary, Alberta
• OSTI ID: 5837849
• Journal Information: World Oil; (United States), Journal Name: World Oil; (United States) Vol. 202:2; ISSN WOOIA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
CANADA
CAPITAL
DRILLING
ECONOMICS
ENERGY POLICY
EXPENDITURES
EXPLORATION
FORECASTING
GOVERNMENT POLICIES
INDUSTRY
NATURAL GAS INDUSTRY
NORTH AMERICA
PETROLEUM INDUSTRY
PRICES
WELL DRILLING