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Tuesday, November 09, 2010 12:18:04 PM
While Canadian oil sands contain huge reserves, it’s relatively expensive to extract oil in a process that resembles strip mining. But with oil now expected to trade close to $81 a barrel, oil sands are now more economically viable.
J.P. Morgan acknowledged that one possible risk to the group is lower oil prices.
“Although our near- and long-term oil price modeling assumptions do not call for prices to differ significantly from the current $81/barrel, significant or sustained weakness in the oil price would likely pressure share prices,” Minyard said.
http://www.marketwatch.com/story/jp-morgan-aims-at-canadian-oil-sands-2010-10-25?reflink=seekingalpha&source=sa
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so do your own due diligence before and consult a licensed professional making any decisions.
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