Technology Disrupting Energy Sector – Earnings: EFX, SU, CJT, EMA, Preferred Shares
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Economies reliant on petroleum production no longer enjoy the economic status and political clout they once did. This stretches from Canada to Saudi Arabia, as oil and natural gas prices decline in response to supplies increasing faster than pipeline take away capacity and demand.
Saudi Arabia is more dependent on petroleum than Canada, but located in a region of hostile neighbours. Canada has friendlier geography, two coasts and a neighbor that represents one of the biggest markets in the world. This geography is also proving to be an expensive obstacle, since the world class petroleum reserves in Canada are not located close to tidewater so require pipelines for land based transport that requires approval from too many.
Cheap energy is actually a big positive for long economic growth. The risk of Peak Oil was a huge negative for the economy, too much energy should somehow be positive.
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