New risks squeeze Alberta’s oil sands
Canada's oil sands face collapsing oil prices, limited export routes and higher taxes
Alberta’s oil sands developers dismissed the onslaught of environmentalists for over a decade, but now they face much graver threats: a collapsing oil price, limited export routes and higher taxes. Calgary hardly blinked during the 2008-09 oil-price fall but this time things are different. Home to the marginal barrel, the oil sands are now the collateral victims of the global supply-glut and the market’s downturn. Even without the slide in prices, executives say the investment climate is worsening. New rules on emissions, higher corporation taxes, uncertainty about royalties and the endless problem of pipeline export capacity combine to chill investment in the world’s third-largest trove of
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
