What does Canada’s economy look like with oil prices at $40 a barrel? Certainly it won’t be the energy superpower envisioned by Prime Minister Stephen Harper. If $40 a barrel still seems a ways off, consider that the benchmark price for oil sands crude is already trading in that price range. What’s more, if production […]
Oil companies dump plans to explore the Arctic
After years of mishaps and false starts, some oil companies are giving up on , in the Arctic. Many companies have allowed their leases on offshore Arctic acreage to expire. Since 2003, the rights to an estimated 584,000 acres in the Beaufort Sea have been allowed to lapse. The oil industry was once optimistic about […]