RE:RE:The next oil boom, a must readThere is MASSIVE untapped oil potential in Iran, Iraq, Russia, Libya and Venezuela, let alone Saudi. These 4 countries alone have the potential to produce at least 8-15m INCREMENTAL bbls/day. Canada has very high cost oil, it would be hard for Canada to compete. There will be plenty pipeline capacity once TMX and all the capacity enhancement projects are completed. But don't expect to see much growth in investment until there is a sustained price over $100/bbl of a technological breakthough to extract oilsands at a lower cost. (for example using Geothermal power.)
Oldnagger wrote: makes you think, As asian demand increases and north sea supply declines, where is supply going to come from for the Atlantic basin? Could be positive for VET. Or will Russia fill the void?
There is always rail from Western Canada. What a brilliant idea on Trudeau's part..The russians must love it.