Extraction costs in oilsands improving
Posted Jan 2, 2017 8:34 am.
This article is more than 5 years old.
One of the biggest knocks against the oilsands is the high cost of extraction.
Prices well above $50 U.S. per barrel are needed to make some of those energy plays viable.
The CIO and founder of Auspice Capital, Tim Pickering, says technological advancements are bringing down operating costs.
Pickering says new pipelines will also increase market access and help the bottom line, especially once Asian countries have better access to our oil.
“I think there’s a premium to be paid for oil from a nation like Canada that does take environmental stewardship seriously, that does have long term sustainability and considers human rights at the fore of its importance of a nation,” explained Pickering.
Pickering believes oil prices will slowly creep higher in 2017, and he’s also bullish about the future price of natural gas.
