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Landmark legal decisions, a spate of big deals and an ever-deepening debate about pipelines — the events that defined 2014 for Alberta’s energy sector
After the events of the last few years, Alberta’s energy sector is accustomed – or, at least, has grown accustomed – to its share of turbulence and volatility. But even those with an elevated degree of tolerance for churn and change probably found 2014 to be a challenging year. Megaprojects were halted, critics cited new reports that connected oil sands development to increased cancer levels in nearby communities and government grappled with the implementation of oil-by-rail safety regulations.
But it wasn’t all bad news. The differential between West Texas Intermediate and Western Canadian Select slimmed substantially compared to 2013 levels, while natural gas prices were markedly higher than they were a year ago. Big deals were done, billions in debt and equity capital were raised and the market even witnessed a few successful IPOs. Here, we look back at the events that shaped the last 12 months in Canadian energy – both for better and for worse.
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