2008-11-03thecuttingedgenews.com

... many observers feel that petroleum from Canadian oil sands is not economically feasible when the price of a barrel sinks below $80. In recent days, the price of oil has crashed to below $65 per barrel. At press time, some spot oil markets were down to $60 per barrel. That cost ineffectiveness has collided with a colossal global credit collapse to create a perfect storm that is pausing and slowing the needed Canadian oil supply expansion to the United States.


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