RE:RE:RE:RE:RE:RE:RE:RE:Katusa is at it again
Blackbirdfly55, you have said that you don't think oilsands can make money at $40 to $50 bucks per barrell but you are maybe missing a couple of sailiant points.
First the largest producer Suncor has a very low cost of production. They have been in the oilsand since the 70's. Over that time the costs have been amortized out and the technology has improved. THeir average operating cost is about 29 bucks PB.
Second is our currency. With it down at these levels it changes the cost structure as they are in CAD and revenue is in USD.
Just some thoughts
I do not feel that Oil Sands will see a decline in exports, as a matter of fact I see production continuing to grow.
They will continue to need Condensate and that market is already in deficit.