It would probably mean that a few of the big mining projects would be put on hold, and that a few of the upgraders would stop construction.
Most SAGD operations are still profitable at that price point, and so are most conventional/mature properties.
I am not certain if the Bakken type oil plays are very profitable at that point due to their completion requirements and the lack of an effective EOR technique that can be used to extend the life of those plays.
Don't be confused, in the long term, oil prices are going to continue to climb, and Alberta's product will be in high demand.
$50/bbl oil might actually be a good thing for the global economy, stimulating development and helping to avoid stagflation in what appears to be a general slowdown. (Help lubricate an overheating engine)
__________________
Quote:
Originally Posted by Biff
If the NHL ever needs an enema, Edmonton is where they'll insert it.
|
|