Yes. Imperial, in particular, is 70% owned by ExxonMobil, which obviously is a huge American oil company. They announced a couple of thousand layoffs around the world. We are seeing this not just in the Canadian oil patch; you're seeing it with BP, Chevron and ConocoPhillips. There are layoffs in the oil and gas sector, because prices are very low and it's an extremely competitive environment. The reason prices are very low is that OPEC has been flooding the market, probably in cahoots with the Trump administration, to keep inflation down. Everyone is trying to cut the fat and survive in this market, and if you can, grow market share if you're a low-cost producer, as the Canadian oil sands are now.
The Imperial cuts, in particular, were just a reflection of those global structures and what ExxonMobil is doing with its own business. The opportunity is to grow the economy in other ways, even as particular companies try to slim down.
