[All] Oil sands to costly!

[Louisette Lanteigne]

The memo written by Mark Corey, one of the highest-ranking officials in the federal Department of Natural Resources, warns that if the current trend of spiralling labour and other costs continues, investors may start to turn off the tap on the massive amounts of money needed to develop the oilsands. Natural Resources Minister Joe Oliver recently estimated the oilsands would need $650 billion in capital investments in the next decade alone — almost five times what's been spent there over the past 50 years. Details here: 

http://www.huffingtonpost.ca/2012/11/01/alberta-oilsands-risk-cost-soars_n_2061095.html


Canada’s national energy-industry regulator will conduct a major audit of TransCanada Corp. following complaints from a former engineer about substandard practices at the giant pipeline company.

http://www.cbc.ca/news/business/story/2012/10/31/transcanada-national-energy-board.html


Lulu
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