Price shocks are a feature of the global oil market, not a bug – and even when governments take many steps to grow supply or reduce demand, it can be years before prices ease.
An oil-drilling rig surrounded by canola and hay fields near Cremona, Alta.
THE CANADIAN PRESS/Jeff McIntosh
Canada must move away from using fossil fuels, but a transition that comes too fast could harm the economy. Policy-makers must strike a balance between energy security and economic growth.
Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih.
AP Photo/Ronald Zak