Canadian Prime Minister Stephen Harper said developing the world’s third-largest pool of oil reserves is as difficult as building China’s Great Wall. Chinese companies may find themselves outside looking in.
InsideClimateNews.org -- As environmentalists began ratcheting up pressure against Canada's tar sands three years ago, one of the world's biggest strategic consulting firms was tapped to help the North American oil industry figure out how to handle the mounting activism. The resulting document, published online by WikiLeaks, offers another window into how oil and gas companies have been scrambling to deal with unrelenting opposition to their growth plans.
Canadian Natural Resources Ltd. said a 50,000-barrel-a-day oil-sands plant backed by the Alberta government will cost C$8.5 billion ($8 billion), almost 50 percent more than estimated previously, and be delayed.
Canadian Natural Resources Minister Joe Oliver said the prospect of the U.S. becoming the world’s biggest crude producer will transform it from a customer into a “competitor,” underscoring the need to build Canadian pipelines to reach Asian markets.