There is already not much profit when gas is at $7MMCF and it costs $6MMCF to produce right now, when the cost now goes up to $6.95MMCF to produce after royalty adjustments it is no longer viable to drill these wells.
This will cause the loss of jobs not only in the energy sector and will do nothing but hurt our economy.
Anyone that is old enough to remember the NEP and what it did to Alberta will be able to talk about job losses and things like people having to sell houses for $1 and walk away from their mortgages.
