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Tag Archives: oilsands

Warren Buffett keeps the faith in oilsands as Berkshire Hathaway Inc raises stake in Suncor Energy Inc


One of the world’s savviest investors has kept the faith in the oilsands as investor sentiment toward the sector is souring. Billionaire Warren Buffett’s Berkshire Hatahway Inc. revealed in its most recent filings that it has purchased an additional 7.6 million shares in Suncor Energy Inc. Berkshire has been boosting …

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Alberta gives the oilsands a climate change deal it can live with


Alberta announced Sunday a sweeping climate change policy to show it is “bucking up” — including $3 billion in carbon taxes that will pick everyone’s pockets and make for a super-fast transition from coal to renewable energy. But it also protects the oilsands industry by putting a cap on overall …

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Oilsands awaits NDP prescription: Spotlight on Alberta in national drive to reduce greenhouse gas emissions


Alberta Premier Rachel Notley is getting ready to roll out the NDP’s new provincial climate change strategy. By all indications, oilpatch enemies hoping for a final deathblow to the oilsands will be disappointed. Obama betrayed America’s closest ally over Keystone XL to prop up climate change legacy Claudia Cattaneo: Canadians …

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Oilsands producers hoping for ‘clean oil’ tag after backing climate policies: Murray Edwards


LAKE LOUISE — Billionaire oil investor Murray Edwards said Canadian oilsands producers took the “bold step” of backing Alberta’s aggressive climate change plan to help change perceptions that Canada’s oil is dirty. Edwards, the chairman and a top shareholder of Canadian Natural Resources Ltd., along with leaders of Suncor Energy …

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Cenovus Energy Inc not impacted by oilsands’ emissions cap, CEO Brian Ferguson says


A new hard cap on greenhouse gas emissions in the oilsands won’t impact Cenovus Energy Inc.’s growth plans, president and CEO Brian Ferguson said Thursday. 'Group of four doesn't speak for the industry': Backlash grows against secret carbon deal Claudia Cattaneo: It’s becoming increasingly clear that hell will freeze over …

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Stranded barrels in the oilsands: How carbon curbs will stunt growth in Canada’s oilpatch


Canadian oilsands producers like Suncor Energy Inc. like to tout the long life of the world’s third-largest crude reserves as their greatest asset. That longevity may now be their biggest liability with a new global agreement to curtail carbon emissions. Secret deal on carbon emissions has driven a rift through …

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Costs to produce crude in oilsands finally drop after 15 years of sharp inflation


CALGARY – After a 15-year period of sharp and continuous inflation, the cost to produce crude from northern Alberta’s oilsands dropped this year, according to a new report from IHS Energy. “Costs will continue to come down, but that’s true of all sources of (oil) supply in the world and …

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At $22, three quarters of oilsands production is underwater and losing up to $3 on every barrel


CALGARY — U.S. crude’s slide to US$35 a barrel this week has left many Canadian oilsands producers selling their oil at a loss, with some analysts predicting even more pain in 2016. Never mind $35 a barrel, Canada’s oil is selling for closer to $20 As oil crashes through $35 …

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Oilsands firms may be forced to cut production as danger of negative bitumen prices looms


CALGARY – Crude oil prices have fallen so low that oilsands producers are now in danger of seeing negative prices for their bitumen. After the bust, oil boomtown Fort McMurray faces threat of ‘shrinking city’ syndrome Alberta’s oil hub Fort McMurray is learning the hard way that there is no …

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As oilsands punished, tanker loads of cheap Saudi oil sail into Canadian ports daily


As federal and provincial politicians pat themselves on the back for their climate change ‘leadership,’ and pipeline opponents gloat about stalling construction of new Canadian pipelines, tanker-loads of foreign oil are delivered regularly to Eastern Canadian refineries, including increasing volumes from Saudi Arabia. What rising tensions between OPEC kingpin Saudi …

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