Disaster has struck the Canadian natural gas industry.
Source: StockCharts.com, February 3, 2018
Natural gas producers also have themselves to blame for the collapse in natural gas prices. Some were too optimistic and were embarking in multi-year high growth plans.
in the end, the bullish story came crashing down: Natural gas demand was overestimated, supply is much more resilient and responsive, and pipeline owners were dragging their feet to upgrade the gathering system in Western Canada. All of which makes up for a perfect storm.
Natural gas demand
The main drivers of growth in natural