Thursday, January 15, 2009

Canadian oil-sand mines stuck as crude price plummets - Times Online

Canadian oil-sand mines stuck as crude price plummets: "Canada's once booming oil sands industry is cooling fast as the plunging oil price undermines investment. More than US$60 billion (£41 billion) worth of projects to extract oil from the bitumen-rich sands of northern Alberta have been delayed in the past three months, according to a study of industry figures by The Times."...............read article

The Athabasca Oil Sands (or Athabasca Tar Sands) are large deposits of bitumen and extremely heavy crude oil, located in northeastern Alberta, Canada.

Picture:
Syncrude Canada Ltd.

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