In the course of the past month, BP tripled the number of tar sands projects it’s developing, from one to three. While it rocked the tar sands industry back in December 2007, with its announcement of a joint venture with Husky that reversed its 1999 decision to avoid tar sands projects, the following two years … Read More
Author: Lorne Stockman
Big oil’s race to the bottom is underway and tar sands producers have a head start
Two stories from Canada’s Globe and Mail this week highlight the emerging reality that the oil industry in North America is downsizing; although the commentary mostly misses the underlying trend that is staring it in the face. Firstly, the G&M highlighted an analyst note from Toronto-Dominion Bank, which warned of a glut in oil supplies … Read More
“Shock waves of anxiety” over Shell’s tar sands move
Remarks made by Shell CEO, Peter Voser to the Financial Times Energy Editor that his company has “clearly scaled down” its plans for a massive expansion of tar sands production should send waves of anxiety through the Canadian oil industry and a serious rethink among energy security hawks in Washington. Since the middle of last … Read More