America Under Siege: The End of Innocence Message Board

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Politics : America Under Siege: The End of Innocence

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To: Snowshoe who wrote (9442)	10/31/2001 10:13:02 PM
From: Brumar89	Read Replies (1) of 27666

Assuming estimated economies of scale and reliability improvements are achieved, management believes Oil Sands could reduce its cash operating costs from its 2000 level of $12.55 per barrel (excluding Project Millennium costs) to the $8.50 to $9.50 per barrel range in 2002. These estimates were developed in 1998 based on an assumed natural gas price of approximately $2.30 per thousand cubic feet (mcf), and other assumptions relating to key variables, including the targeted level of oil production. Accordingly, these estimates are subject to change and their achievement cannot be assured. For example, these estimates do not include the impact of maintenance activities now scheduled for 2002, or changes in natural gas prices which potentially impact cash operating costs by approximately $0.50 per barrel for every $1 per mcf variance from the $2.30 per mcf assumption. 64.29.207.38 Saudi Arabia can turn on the taps and lower the world price low enough that oil sands is uneconomical. An import fee imposed on oil from the Persian Gulf would be one way of preventing this.

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