Upgrader:Harper’s gambit
Melissa Pistilli - November 7th, 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.
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.