Upgrader:Harper’s gambit
Fri, Nov 7, 2008
Heavy Oil Investing News reports low oil prices and a tight credit market, the outlook for heavy oil and oil sands are pretty grim.
Indeed, Bloomberg is reporting that Jacobs Engineering Group Inc (NYSE:JEC) predicts a decrease of US$40 billion worth of oil sands-related projects, from US$120 billion to US$80 billion, largely due to reduced prices.
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