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Bright natural gas flares dot the North Dakota landscape amid an oil boom that is changing the energy dynamics of North America.
Bright natural gas flares dot the North Dakota landscape amid an oil boom that is changing the energy dynamics of North America.
(Nathan VanderKlippe/The Globe and Mail)

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Energy firms join miners in the financing doghouse

For a country with such rich oil and gas deposits, Canada has barely seen any energy financings this year. And the outlook isn’t very promising.

While it’s mainly the mining industry currently under the microscope, plagued by billion dollar writedowns and struggling to raise cash, the oil and gas sector is also going through a rough time, barely able to raise money in the public markets – particularly for junior names.