Energy earnings: How bad will they get?

Canadian Oil Sands surprised no one on Thursday when it reported sharply lower earnings and a massive cut to its dividend. Canadian Oil Sands reported net income of $25 million, down 87 per cent from the same quarter a year ago. It cut its capital spending plans for 2015 and slashed its dividend by 86 per cent, to five cents a share, to conserve cash. "Canadian Oil Sands is what you call a pure play," says Judith Dwarkin, director of energy research with ITG Investment Research in Calgary.