Capitalism will take care of that.....for a while... until oil prices go up again....
Low bids stymie Petrocan oil sands auction
But with the price of oil down more than 20 per cent from a peak in 2006, passion for the oil sands has lessened, in part because of the high cost of developing projects in northeastern Alberta.
Interest in the oil sands can vary from week to week. On Jan. 10, the Alberta government said exploration rights for about 200,000 hectares of oil sands territory generated $134-million. Two weeks later, oil sands rights raised only $500,000 for less than 6,000 hectares. Another sale will be announced Wednesday, which is expected to attract more interest, as are more sales in March.
Another Fire Sale of Alberta's resources, with a 25 year exemption on Royalties!!!
Lougheed was right we need a plan for expansion of the oil sands, but that is not likely to happen as this is the same government that sold off its assets like liquor stores, highway construction, etc. at fire sale prices.
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2 comments:
Yeah, as temperatures warm up people need less heating oil=oil prices drop=oil sands become less profitable.
Gaia fighting back or what?
And with the cold snap across North America land sales in Athabasca will be booming along with oil prices.
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