Canada Gives Struggling Oil Sector a C$1.6 Billion Boost

Reuters, December 20, 2018

The Canadian government said on Tuesday that it would spend C$1.6 billion ($1.19 billion) to assist the country’s oil and gas industry, which has struggled to move energy to U.S. markets due to full pipeline capacity. Natural Resources Minister Amarjeet Sohi said the aid package would include C$1 billion for energy exporters to invest in new technologies, boost working capital, or find new markets.

$1 = 1.3459 Canadian dollars

(Reporting by Rod Nickel)

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