RE:Fleeing or fled?if ever there was a totally biased anti-canadian oil sands propoganda article this is it.
there are so many inacuraccies in this report that it's not even worth aruging it and it's a simple scare report to liberate investors from their shares.
I don't think you will see Warren Buffet sell his suncor shares , actually I think he is increasing his investment in Suncor.
I'm not arguing for building new oil sands mining projects, not at 45 or even 65 WTI, but companies can get more efficient, lower costs and make good profit at 60 WTI.
it's the same for any high cost project, be deep water drilling, or even shale drilling in fringe plays versus sweet spots, these projects will slow down or disappear until oil prices go much higher which could take a few or many more years.
COS is getting more efficient, more reliable, and will continue to lower costs to become profitable plus they have the upgrader which produces a product that is in demand and at times sells at a premium to WTI.
to suggest that they are going to go bankrupt is just a bunch of lies and scare mongering from parties that are heavily short canadian O&G companies.
DYODD