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More headline risk around Alberta’s oil sands industry –

by ahnationtalk on July 29, 2015625 Views

July 28, 2015

July hasn’t been a very good media month for Alberta’s oil-sands industry, and not just because of all the coverage given the fifth anniversary of the Enbridge Inc. spill in the Kalamazoo River of northern Michigan.

The Wall Street Journal had a one-two oil-sands punch with separate articles on the same day last week, one chronicling setbacks in Canada’s overall aspirations, the other exploring how executives at Cnooc Ltd. of China evidently blew it two years ago by paying $15 billion for Nexen Inc.

The headline on the former: “Falling Crude Prices Upend Canada’s Oil Sands Projects.”

On the latter: “How a Chinese Company Slipped on Canada’s Oil Sands.” The Journal named names in the subhead on that one: “State-controlled Cnooc bought Canada’s Nexen to expand globally but now faces poor production, oil spill.”

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