The President of one of Canada’s biggest oil and gas producers warned the oil sands industry that they must cut costs or face a “death spiral”. The drop in oil prices is an “opportunity” for every part of the industry to cut costs and eliminate inefficiencies that crept into the system during years of high… Keep reading →
Oil sands producers have been through oil price declines before and some are hoping economies of scale, along with innovation, can reduce costs enough to make it through the current market cycle. “Syncrude forecasts operating costs at C$45.69 ($38.07) per barrel in 2015. Oil sands crude trades at a discount to the West Texas Intermediate… Keep reading →
Presidential Permit for Keystone XL Not a Foregone Conclusion
By Roman KilisekLast Friday the U.S. Department of State released its Final Supplemental Environmental Impact Statement (SEIS) for the Keystone XL pipeline project. Instantly, many media outlets were only too eager to suggest that with this report the Keystone decision to be made by President Obama is a foregone conclusion; namely, in favor of the controversial project.… Keep reading →