What a difference a year makes. Twelve months ago, the energy sector was in woeful straits. Oil producers were being forced to sell at deep discounts to the benchmark Texas West Intermediate crude price. Oil sands production risked being locked in by a lack of pipeline capacity. Fracking had created a completely unexpected natural gas production boom in the U.S. Access to the Asian markets was being blocked by opposition to Enbridge’s proposed Northern Gateway pipeline. The whole sector, which is so critical to Canada’s economy, was in a mess.