Quote:
Originally Posted by Cowboy89
In some cases, but for all of Alberta's bitumen? Greenfield projects are pretty expensive here!
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Most definitely! Its just been very curious over the last three years how much the price of lower grade crudes have appreciated relative to their traditionally more valuable counterparts!
It never made sense to me to refine here when there is all this capacity in the US that is not being used... its a win-win. We get to attract investment to produce, we get to sell it to them. Sure we don't get the highest margin possible, but the cost for us to be able to sell at that higher price doesn't make economic sense. Not going to provide a lot of jobs doing that!
The Northwest Upgrader is an interesting case study that should do fairly well over its lifetime.