RE:RE:China laughing all the way to bankif this is how you value oil sands versus shale oil, then you really don't understand the economics of either. There are a lot of shale deposits that are uneconomic sub 50 wti and some uneconomic sub 60 wti, and they require huge capital expenditures just to keep produciton flat. Yes the sweet spots being drilled right now make money sub 40 and maybe even sub 30, but very few can survive at these low prices and bankruptcies will be prevelent in USA in 2016.
they both have their place and don't forget right now, we are selling our oil sands oil to the USA for a big discount and that discount will disapear when they build new pipelines to either coast.
the USA would be losing billions by not importing CND heavy and switching their refineries to process light sweet crude and they don't want that and they are spending millions support environmental groups to oppose pipelines to both coasts because they love CND heavy.
we Candians are stupid for not approving trans moutain expansion and canada east, and it's costing our economy hundreds of millions and sooner or later it's going to lower our standard of living.
MEG can easily survive 40 WTI with their low costs.
Now we need news of access sale and then a big share buyback at these ridiculous share prices