posted on
Oct 20, 2015 10:40AM
Suncor's price to mine in the oilsands is currently $29 per barrel Canadian. Prices of $90 break even for Fort Hills are ridiculous. They recently picked up another 10% off Total for $310 million giving them 51% of the project and controlling position. Even at $45 dollar a barrel US they are producing close to a billion dollars of free cash flow, nobody knows how to make profits in the sandbox better than Suncor! Alberta has nobody but themselves to blame right now because they threw all their eggs into one basket (US) in selling 90% of their oil at a reduced price and didn't build any upgrades or refineries when times were good!!