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Oil price limbo and Canada’s oil sands: Part II
Energy stock picks provided; Oilexco, Oilsands Quest discussed
[Editor’s note: To read part I of this interview, please click here]
Based in Calgary as BMO Capital Markets’ oil and gas analyst for Canada, Mark Leggett shares his home province with what’s called Canada’s “trillion-barrel tar pit.” Alberta’s oil sand deposits reportedly contain about 1.7 trillion barrels of bitumen in-place, comparable in magnitude to the world’s total proven reserves of conventional petroleum and second in volume only to Saudi Arabia. The catch? It costs up to $25 per barrel to extract oil from oil sands, compared to $2 to produce Saudi crude—numbers that…
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