Quote:
Originally Posted by flamesfever
As demand for oil slows with the global slowdown, I believe OPEC has a greater ability to control the world price of oil, due to much lower production cost.
I wonder if OPEC isn't going to use this time to allow the price to drop low enough to render the oil sands uneconomic. Shutting down the oil sands would allow them to regain part of their market share.
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It won't shut down the oil sands. Existing projects would still be producing (as their capital costs are already sunk). Problem for Alberta is that a fair bit of our economy depends on the design and construction of new projects.