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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Dennis Roth who wrote (158705)10/20/2011 12:57:12 PM
From: teevee  Read Replies (1) of 206092
 
It is old news. Both green fields and brown fields oil sands projects, and expansion of Bakken oil production in the Dakota's, are at risk if the XL pipeline isn't approved. For example, Exxon and its Canadian subsidiary, Imperial Oil, are up the creek without a paddle on the multi billion dollar Kearl oil sands project under development if the XL pipeline is not built or delayed. There is no spare refining and pipeline capacity for the initial 120,000 b/d from Kearl. Other producers with brown fields expansion projects face similar problems. Given the commitments in the $30 billion range, I would be surprised if XL didn't proceed, but anything is possible nowadays given the unstable politics in Washington. When the XL is approved, I expect the oil sands stocks will all be "green" for at least an initial 10% move to the upside.
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