Quote:
Originally Posted by Flames in 07
hilarious. So ... just hanging out in a shell board room?
All existing oilsands projects work at 45 dollar oil. How did we get to a point that people are worried about 85 freaking dollar oil?
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Costs have risen so rapidly in the last 2 years that the financials are no longer in the $45-55 range, they are now close to $70. Same thing with offshore drilling, those projects need $70 to be economical now. I agree with Cowboy that as projects are cancelled costs will decline back into affordability. But thats after projects have been postponed and people have already lost jobs.