www.lexpert.ca 5
OIL PRICE JUMP
rates potentially causing a medium-to-
long-term decline in demand, oil and gas
companies are thinking twice about major
capital investments, says Ron Ezekiel,
co-leader of Fasken's global energ y and
climate group in Vancouver. He sees some
investment, particularly in gas, though.
ese companies are looking to take
advantage of the market rebound and
explore new opportunities, such as the
export market where North American
natural gas can displace coal and other
more carbon-intensive generation in Asia.
According to the International Energ y
Agency, Canadian natural gas has room to
grow as much of the international commu-
Source: Government of Alberta
• January – June avg.
(West Texas Intermediate)
2021: $61.94
2022: $101.50
Change: 63.9%
• January – June avg.
(Western Canada Select)
2021: $49.98
2022: $87.68
Change: 75.4%
