Saskatchewan not following Alberta’s lead in cutting oil production

Saskatchewan Premier Scott Moe said in a statement that the province isn’t considering following Alberta’s example in cutting oil production.

Monday morning, Alberta Premier, Rachel Notley announced that province will reduce oil production by 8.7 per cent. She says a price crisis is costing Canada about $80 million a day.

Saskatchewan’s industry is conventional oil, not oilsands production, Moe said. A mandated cut would have little impact on price, but would prompt job losses and a decline in economic activity.

Alberta orders 8.7 per cent oil production cut to help deal with low prices

“That said, we understand the actions being taken in Alberta and will be working with our industry partners to ensure Saskatchewan is not undermining these efforts,” said Moe.

Moe added that this crisis has cost Western Canada’s energy industry billions in lost growth, and far too many families their livelihoods. Saskatchewan will continue to work with its provincial counterparts and advocate for the federal government to create a long-term solution to this crisis, by getting pipelines built so we can sell our oil for what it is worth.

Alberta will begin cutting oil production in January.

© 2018 The Canadian Press

You May Also Like

Top Stories