Record profits expected for Canadian oil industry

“…the infamous cyclicality of the oil patch hasn’t vanished, with a downturn forecast for 2009 on weakened prices and higher costs, while the woes of the oil-allied natural gas industry stand in stark contrast to crude producers. And controversial royalty changes imposed by the Alberta govenment of Premier Ed Stelmach are expected to have little, if any, effect on investment, said the Ottawa-based economic research organization.

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