Plunging prices, climate concerns hit Canadian oil sands producers hard

Posted by InsideClimate: Elizabeth Douglass on August 11th, 2015
InsideClimate: Canadian oil sands producers, facing a double whammy of low oil prices and higher taxes in Alberta, are slashing spending, suspending production, cutting jobs and halting shareholder dividends. They are fighting the same market forces that are putting pressure on the entire oil industry, but face even more hurdles than the oil majors. Oil sands projects are among the industry’s most expensive endeavors, so they need sustained, higher oil prices. When prices are low--or even very volatile--companies......

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