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Mining Canada's Oil Sands: Suddenly, Not a Sure Thing

Nov 5, 2012
(Wall Street Journal, sub req'd)

Amid rising costs, gyrating prices and a burst of supply competition down south, Canadian oil companies are rethinking investment in one of North America's earliest and fastest-growing "unconventional" oil frontiers—Alberta's oil sands.

On Thursday, executives at Suncor Energy Inc., Canada's largest oil sands producer by output, said they were reviewing three multibillion-dollar mining and upgrading projects that it and its partners have been considering, and that they would delay a final decision about going ahead with any of them. The move will help Suncor slash capital spending this year by 11%, the company said.