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Bitumen bubble bursts
The so-called "bitumen bubble," which was used to justify provincial cuts this spring, has burst, as Alberta bitumen passed the $85 per barrel mark this week.
That's almost double what Alberta was getting for its raw bitumen in January, when prices were about $45 per barrel. And since all prices are based on U.S. dollars, and the loonie has dropped in value compared to its American counterpart, Thursday's price of $85.50 looks even sweeter
Read the full article here.
The so-called "bitumen bubble," which was used to justify provincial cuts this spring, has burst, as Alberta bitumen passed the $85 per barrel mark this week.
That's almost double what Alberta was getting for its raw bitumen in January, when prices were about $45 per barrel. And since all prices are based on U.S. dollars, and the loonie has dropped in value compared to its American counterpart, Thursday's price of $85.50 looks even sweeter
Read the full article here.