Technologies, issues and policies for sustainable mobility.

Visit Green Car Congress

Global Financial Crisis Threatens Oil Sands Projects

Posted on October 08, 2008

Globe and Mail. Tighter credit and lower oil prices stemming from the expanding global financial crisis are threatening new oil sands processing projects. Most at risk are upgraders, the sprawling facilities where heavy crude, or bitumen, is processed into a lighter synthetic product that can be handled by more refineries. Upgraders can cost up to $12-billion. Financing woes aren't the only roadblock: The price difference between bitumen and synthetic crude has narrowed, leaving less value for upgraders to capture.At least 10 new upgraders are being built in Alberta or are under consideration,...

Original article link


alberta , canadian , dutch , globe and mail