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

|By:, SA News Editor

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.