Husky CEO Sees Canada-Only Carbon Tax as ‘Politically Suicidal’
Husky has structured its business to turn a profit with U.S. crude at $40 a barrel and Canadian gas not exceeding C$3.00 per gigajoule, Ghosh said. The Organization of Petroleum Exporting Countries, which in the past has held order in global oil markets, is now unstable, he said.
“Going forward, its ability to manage price is not something one should build a business plan on,” Ghosh said. “The downturn has turned out to be more protracted and more severe than even our conservative assumptions.”
To contact the reporter on this story: Rebecca Penty in Calgary at rpenty@bloomberg.net; to contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net Jim Efstathiou Jr.
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