Sans Pipeline Will Not Stop Oil Sands
Discussion of building a pipeline from the Canadian Oil Sands down through the U.S. has been going on for some time now. There has been backlash about the pipeline plan. No worries oil investors! The show, i mean, oil production will go on! Ian Austen does a great job of summing up the whole situation.
" “The Canadian oil sands will continue to be developed irrespective of whether the pipeline goes ahead,” said Russell K. Girling, the president and chief executive ofTransCanada, the company behind the $7 billion project.
…The stakes are enormous. The oils sands have reserves of 171.3 billion barrels, according to estimates by the provincial government of Alberta — enough to change the balance of world oil markets, some energy experts say; by comparison, Saudi Arabia has reserves of 264.2 billion barrels…"
Read the entire article here: http://www.nytimes.com/2011/06/07/business/energy-environment/07pipeline.html?_r=1&ref=energy-environment