An energy group in Canada said it estimated the two-year spending trends in the oil and gas sector were at their lowest level in more than 60 years. The Canadian Association of Petroleum Producers estimated capital spending in the sector is expected to decline 62 percent from 2014 levels to $24 billion, the largest two-year decline since record-keeping began in 1947. “Canada needs urgent action to remain an attractive market for oil and gas investment, and to be competitive relative to other oil and natural gas producing jurisdictions,” CAPP President and CEO Tim McMillan said in a statement. The organization last year said it estimated more than 4,000 people would lose their jobs as a result of […]