The federal government of Canada is preparing a multibillion dollar financial aid package for the oil and gas industry and could announce it as soon as next week, the Globe and Mail reports , citing unnamed sources. Among the measures discussed were access to more credit, especially for smaller businesses, and job creation for the workers who will likely be laid off amid the price crisis. One source told the Globe and Mail that Ottawa has prepared US$10.43 billion (C$15 billion) in financial aid for the industry, which, already struggling with low local crude prices, a pipeline shortage and a hostile investment environment has now been brought to its knees by the combination of weak demand created by the Covid-19 outbreak and the oil price war started by Saudi Arabia earlier this month. The local benchmark, Western Canadian Select, yesterday dived to $5.430 a barrel, losing more than 50 […]