When the oil recovery comes, it won’t look like anything the world has ever seen before

By now, we’ve all received the memo on distress in the oil and gas industry. Daily depressing blogs, news stories and Twitter feeds are diarizing the corporate carnage, project cancellations, idle oilfield activity and 100,000-plus layoffs. The cash drought is so severe, even the line-ups at Tim Hortons have subsided. That’s what happens when $50 billion of investment is sucked out of an economy in 18 months.

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