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The deteriorating price environment for Alberta’s oil sands could spark development on...

The deteriorating price environment for Alberta’s oil sands could spark development on Canada’s east coast, where new seismic work has uncovered three "very large" but highly prospective fields in the Labrador Sea. The beauty would be participation in the global market by tanker, which means Brent pricing. Prime beneficiaries could be Exxon (XOM) and its $14B Hebron project, plus BP, SU, IMO.
Comments (4)
  • rjj1960
    , contributor
    Comments (1366) | Send Message
     
    Years away, not going to help anytime soon. The President, not only did he lay the wood the the coal industry but now Canada.
    15 Feb 2013, 05:03 PM Reply Like
  • jack20
    , contributor
    Comments (294) | Send Message
     
    As soon as the unions put enough pressure on Obama for those 20k $50-75000 jobs Keystone XL will be built but a year late. The intersection of good economic policy and politics is always ugly. What a way to treat the best friend(Canada) we ever had! I guess buying the oil from OPEC than Canada makes sense, to some people!!!
    15 Feb 2013, 06:38 PM Reply Like
  • john001
    , contributor
    Comments (595) | Send Message
     
    When it comes to the inner workings of Obama's mind, opinions on outcomes are a dime a dozen, and subject to change with the number of movie stars chained to the White House gates. I was going to add my two cents worth on his decision on the keystone pipeline. However, since we Canadians have recently abandoned the penny, I will add my nickel's worth. He will definitely approve the pipeline on the condition that congress approves a carbon tax. Harper is on record as following the US lead. This will provide a boost to SU share price.

     

    As for the promo announcement on seismic anomalies on the east coast, that's exciting news for anyone who has worked in the exploration game. However, having worked as an O&G exploration & production geologist for many years I would just add that the technical & political risks involved in developing these "leads" is going to mean production in 8 to 10 years. Not much of a boost to SU share price.
    15 Feb 2013, 10:30 PM Reply Like
  • Chancer
    , contributor
    Comments (2667) | Send Message
     
    john001:

     

    "...inner workings of Obama's mind..." A very scary thought indeed.

     

    "...congress approves a carbon tax." Doubtful that House GOP will do this.
    16 Feb 2013, 12:43 PM Reply Like
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