EDMONTON -- Premier Jason Kenney is calling on the federal government to take more action to support Alberta's energy industry as prices continue to plummet.
Kenney tweeted after the price of Western Canada Select dropped below zero on Sunday night.
Prime Minister Justin Trudeau announced on Friday a $1.7-billion investment to clean up orphan and inactive wells in Alberta, Saskatchewan, and B.C. on Friday. The money will help create jobs and allow energy companies to avoid bankruptcy and maintain environmental targets.
Kenney said the investment was welcome but does not go far enough.
"Significantly more action is urgently needed to ensure a future for an enormous part of Canada’s economy," Kenney tweeted. "A collapse of the Canadian energy sector would be economically devastating for the whole country, from banks, to pension funds, to manufacturers, to government revenues."
Calgary-based Husky Energy announced it is cutting an additional $700 million in spending on Monday, in response to unfavourable market conditions.
