As the industry suffered in those places, the long term valuations of those places would be written down quickly, so it's really not surprising to lose $1B when marking down assets of those size.
I have to admit that the clearly racist part of his base is
Well, part of the problem is that population of people has been called racist so many times for their personal beliefs over the last decade, they're starting to not care and the word doesn't mean anything anymore.
If anyone on the Democrat side ever wants to bring these voters over, they'd try and do their best to understand that wanting to protect one's culture, even if you're white, doesn't amount to racism.
It is not economical even at the current price.
You are living in the past. Technology makes it cheaper and during downturns the companies have shown capable of cutting costs below production cost. That $60/barrel (or whatever number you heard) accounts for current costs during boom times where spending is high. That cost can quickly be shaved down by prudent management as has been done.
Second, keep in mind these are Canadian companies which report earnings in Canadian dollars. At the same time that oil went down, the dollar retreated to about 75c (well today it's 76). When oil was high the Canadian dollar was much higher (at times worth most than USD). So these companies are making an extra 30% or so on their barrels (which the oil price you see is in USD).
Simply put, that statement isn't, has never, and never will be true, unless oil drops to the $15 or so per barrel rate. Please stop repeating it.
When most any plant gets over about 100 degrees, it "shuts down"; its stoma close, for example, which renders it unable to respirate. You know nothing about plants.
...and I would say you know nothing about "Life". Life on this planet, especially flora, has evolved to handle greater changes in even shorter periods of time. I always laugh at the environmentalists who assume all life on this planet will just remain the same and die out when something changes.
"Conversion, fastidious Goddess, loves blood better than brick, and feasts most subtly on the human will." -- Virginia Woolf, "Mrs. Dalloway"