RE:News releaseWe consume 1 Billion barrels of crude oil every 10 days.
And will continue to do so for the next 30 to 50 years at least.
Why else is there an attempt to take out PQE at such an early stage? Until the world population either shrinks, or the 5 Billion people in less developed nations decide not to drive.
Still need to make tires and pave roads, and all the other stuff from petrochemicals. (70-80% of crude use)
The best that 'alt-energy' can do is slow down the increase in usage of fossil fuel, and/or get to a steady state of use at around current rates.
35-40 Billion barrels a year consumption...for decades.
Not a bad target market.
Whoever is behind this Bid is playing a long game.
jcatalan wrote: Another attempt to convince shareholders not to tender. It will take years and lots of capital to realize even a portion of that projected revenue. And remember oil sands are not exactly a transition energy source. LNG yes, oil sands mining… nope.
Buy and tender.