Tar Sands, Banking Crisis, & Peak Oil - Mired At The Crossroads

stuck in traffic jam photo

As expected, investment in Alberta Tar Sand (what the industry likes to refer to as "oil sands") developments are being cut back a bit; but tar sands developers still expect to remain profitable, even if oil hits US$60/barrel.

Suncor Energy Inc., which last week rolled out massive spending cuts because of the credit crisis and slumping oil prices, said it will earn C$28 for every barrel of oil it produces should crude trade at US$60/barrel and Canadian dollar hover around US78 cents.

Via:Financial Post, Oil sands still viable at US$60 a barrel: Suncor ...