Suncor approves $20.6-billion oil sands expansion
Suncor Energy Inc. said Wednesday it will spend $20.6-billion on an expansion scheme that will make it the biggest producer in the oil sands of northern Alberta.
Suncor's board of directors gave the go-ahead for the Voyageur project, a 200,000 barrel-a-day expansion of the company's already massive oil sands operations near Fort McMurray. Voyageur will boost output to 550,000 barrels a day when complete in 2012. [...]
The project is the latest of more than $100-billion worth of plans to tap the oil sands to feed demand from U.S. refiners for Canadian oil. [...]
Production from the northern Alberta oil sands, the largest oil reserves outside of the Middle East, is expected to nearly triple to three million barrels a day by 2015. [...]
No recession here folks... nor for some time by the looks of it. Now if only we could get some living accommodations for all the people that we need to fill all the positions available. Alberta's new motto should be... "If you build it, they will come"
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