Fears grow over possible job losses in Sask. oilpatch
Plummeting gas prices have put oil industry jobs in doubt
You may be smiling at the gas pump these days.
Prices were around 95 cents a litre throughout much of Saskatchewan on Thursday. And oil is currently trading at less than $60 a barrel.
Not everyone is happy about those things.
There are fears of job losses in Saskatchewan's oil industry if the price of oil continues its downward trend. No official announcements have been made from major oil companies yet. But the businesses that support the oil industry are worried.
One owner of an oil hauling company says he hopes prices have already bottomed out.
"Unfortunately, I think it's going to happen. I just don't see a way we can keep everybody that we have right now," said Rodney Benning, the owner of L&C Trucking in Estevan.
"With the price being where it is, I believe that's going to happen with a lot of different companies in the area."
Nationwide, the news may not be better.
CIBC has a report that says governments throughout Canada stand to lose $13 billion because of the recent decline in oil prices.
The energy sector in the prairies may be especially hard hit. Gas and energy accounts for 25 to 30 per cent of the province's GDP.