Low oil prices cause U.S. and Canadian firms to curtail capital outlays in 1999

Robert J. Beck Associate Managing Editor-Economics How U.S. Petroleum Capital Spending Has Varied [89,506 bytes] Where funds go for 1999 U.S. Projects [116,339 bytes] Non-north American spending plans of 32 U.S. companies [116,339 bytes] Canadian spending plans [111,379 bytes] Oil and gas company U.S. capital spending is expected to fall sharply in 1999, driven by extremely low oil prices and weak natural gas prices. Companies also plan to slash investments in areas outside of the U.S. and Canada for the same reasons, and because of uncertainty concerning future price and demand levels. A year ago, spending for 19...

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