Heavy Oil Investing News » Oil-Sands Spending to decline 20%

Oil-Sands Spending to decline 20%

November 11, 2008 @ 6:56 pm In Heavy Oil Market News

Energy firms are cutting back development of Canadian oil sands, the world's biggest energy reserves outside Saudi Arabia, as crude prices plunge and processing costs become prohibitive.

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[1] here: http://www.bloomberg.com/apps/news?pid=20601082&sid=a56e_LPvSzYU&refer=canada