MATR News: Further signs of stress in Canada's oil sands

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Further signs of stress in Canada's oil sands

November 19, 2008

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Canada's booming oil sands industry showed more signs of cooling off Monday as crude prices continued their long plummet from record summer highs. Petro-Canada and its partners Teck Cominco Ltd. And UTS Energy Corp. postponed a decision on further investment in a $19.5 billion oil sands project in northern Alberta and shelved plans to build an upgrade refinery — becoming the latest to postpone investment decisions on a mine and the latest to ditch upgrades.

ROB GILLIES Associated Press Writer TORONTO

Full Story: http://www.havredailynews.com/articl ... s/world.txt
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