The Globe and Mail reports in its Wednesday edition that Canada's energy industry is grappling with peak pessimism as weak oil prices and opposition to major pipeline projects stoke uncertainty about future growth in the sector. The Globe's Jeff Lewis and Kelly Cryderman write that a key forecast on Tuesday said oil sands producers were expected to chop spending to $15-billion this year, down from an estimated $17-billion last year and $34-billion in 2014. The outlook by the Canadian Association of Petroleum Producers (CAPP) reflects deep anxiety in a sector already beset by tumbling share prices and opposition to major pipeline proposals, including Kinder Morgan's Trans Mountain expansion and Enbridge's Line 3 replacement project. Since the start of the year, U.S. oil prices have slipped back to less than $50 (U.S.) a barrel. The Toronto Stock Exchange's energy group has slumped more than 17 per cent. CAPP warns that new taxes and climate-change regulations in Canada risk putting the sector out of sync with the United States. The industry will cede more investment to U.S. rivals should pipeline projects approved by Ottawa get blocked, says CAPP president Tim McMillan.