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Suncor Energy (SU -0.6%) may make its C$11.6B Voyageur oil sands project the first major...

Suncor Energy (SU -0.6%) may make its C$11.6B Voyageur oil sands project the first major spending reduction among Alberta energy producers, as cutting production costs is one of the few options available while the region’s crude prices sink to the lowest in the world. The revolution in U.S. production and the gridlock in pipeline approval is "a train wreck" for Canadian producers, an analyst says.
Comments (12)
  • The only word this analyst has correct is train. When the XL pipeline is turned down by the President, I think the tracks will be laid all over Canada to move the oil to ports by train.
    16 Jan 2013, 03:41 PM Reply Like
  • The oil will get to the coast somehow. If it doesn't come through the US, then the Canadians will do it on their own and export it to Asia via ships.
    16 Jan 2013, 03:53 PM Reply Like
  • Trains go off the track and spill their loads more often than you may realize, they just don't get as much negative press as a minor leak in a pipeline gets.
    17 Jan 2013, 11:43 AM Reply Like
  • The XL will go forward. The president would be nuts to deny the movement of crude from Canada down to the Gulf.
    16 Jan 2013, 03:48 PM Reply Like
  • The 20% discount on mid-continental oil prices (and that again for Canadian oil) is stimulative to a rather sludgy American economy. That may be part of the public policy mix.
    16 Jan 2013, 06:17 PM Reply Like
  • Risky to predict politics. Is Obama holding Texas refineries hostage to a larger issue? Who knows? One thing is sure: Obama is POTUS, not Dubya, and even the Kochs have begun to realize this. Next: the Congressional Texans. You can't secede, fellas, so you'll have to deal.
    16 Jan 2013, 05:46 PM Reply Like
  • Maybe Obama has been holding Texas hostage. He's POTUS now, not Dubya, and even the Kochs have finally figured that out. Texas can't secede, so they will have to deal. After Obama gets what he wants, the XL will go forward.
    16 Jan 2013, 05:47 PM Reply Like
  • It seems that Texas CAN secede, the only state in the union to have retained that right.

     

    And bt rge way timestacker, I think Obama IS nuts!!!
    18 Jan 2013, 05:13 AM Reply Like
  • If it's one thing I know about US politics, "Big Oil" effectively controls the US Government, along with "Big Banks", "Big Defense", and "Big Pharma". Forget partisan politics - Both US parties bow to the same Big Corporate Masters. It would be in the interest of US "Big Oil" to keep Canadian oil out so as to maintain a market for their own emerging oil production.
    17 Jan 2013, 01:31 PM Reply Like
  • And this would be because Big Oil hates profits on the crack spread?
    25 Jan 2013, 02:11 AM Reply Like
  • Maybe the holdup on the XL is an unspoken favor to the "Oracle"?.......,naahhh. Favors are out of favor.......arn't they?
    17 Jan 2013, 02:04 PM Reply Like
  • Exactly. Buffett is making a bundle on train transport of oil, even though train transport results in greater oil spillage than pipeline transport.

     

    It also appeals to Obama's eco-nut base that believes oil pipelines are evil, even though they're far safer than train transport.
    25 Jan 2013, 02:09 AM Reply Like
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