Black Gold, Black Death
Black Gold, Black Death
Oil Sands Frenzy in Canada
By JOHN HOLT
Record profits coupled with little or new regulation on an industry gone venally berserk and it's off to the races once again in Canada as far as natural resources versus the health of the environment are concerned. This time the triggering mechanism is the tremendous oil reserve contained in Canada's oil sands (or tar sands if you're a traditionalist) deposits. Fueled by the US's insatiable desire for gasoline, and its historical dependence on Canada, the current boom is only expected to escalate in profit-taking frenzy.
Skyrocketing prices for crude oil have started a rush that has turned the sands profitable. The industry has been producing oil for as little as $24 a barrel, creating huge profits when prices hit $70 a barrel or $60 or even $50.
(Click here to read the rest of the story)
Oil Sands Frenzy in Canada
By JOHN HOLT
Record profits coupled with little or new regulation on an industry gone venally berserk and it's off to the races once again in Canada as far as natural resources versus the health of the environment are concerned. This time the triggering mechanism is the tremendous oil reserve contained in Canada's oil sands (or tar sands if you're a traditionalist) deposits. Fueled by the US's insatiable desire for gasoline, and its historical dependence on Canada, the current boom is only expected to escalate in profit-taking frenzy.
Skyrocketing prices for crude oil have started a rush that has turned the sands profitable. The industry has been producing oil for as little as $24 a barrel, creating huge profits when prices hit $70 a barrel or $60 or even $50.
(Click here to read the rest of the story)
posted by Oil Shock at 11:42 AM
0 Comments:
Post a Comment
<< Home