Some reps at the CERA conference in Houston aren’t too optimistic about the future of the oil sands without Keystone XL.
The CEO of Enbridge told Bloomberg that the current 30 dollar a barrel discount for bitumen is unsustainable.
He says if the industry can’t attract better prices, development will slow down.
University of Calgary business professor Robert Schultz says development has already slowed because of the price discount.
He says companies are waiting to see what the decision is on Keystone XL before deciding whether to go ahead with new oil sands development.
March 7, 2013
