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The Oil-Sands Glut Is About to Get a Lot Bigger

2015-09-04 15:09:00| Climate Ark Climate Change & Global Warming Newsfeed

Inside Climate News: The last place oil producers want to be when prices plummet to profit-demolishing lows is midstream on a billion-dollar project in one of the costliest parts of the planet to extract crude. Yet thats exactly where half a dozen oil sands operators from Suncor Energy Inc. to Brion Energy Corp. find themselves with prices for Canadian oil now hovering around $30 a barrel. While all around them projects have been postponed or canceled, their investments were judged too far along when the oil game suddenly...

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