This report examines the short-and medium-term economic and profitability outlook for Canada’s Gas Extraction Industry.
Canada’s Gas Extraction Industry: Industrial Outlook Summer 2014
Canada’s Gas Extraction Industry: Industrial Outlook Summer 2014
Industry Economic Analysis
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- Prices—North American natural gas prices have come down from their winter highs but have stabilized well above the very low levels seen in 2012–13.
- U.S. Market—The U.S. natural gas market is steadily closing to Canadian producers. With further gains in U.S. production expected, Canadian gas will be increasingly relegated to a market-balancing role in the U.S. market.
- Labour Costs—Canadian producers were unable to take advantage of the jump in prices in the first quarter due to a large increase in labour costs. With the labour markets in Western Canada remaining tight, wage premiums are expected to remain high.
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