Maybe Tar Sand Oil From Canada Is Too Expensive To Refine In Wisconsin?
August 22, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
James Rowen | Source: The Political Environment
Pretty quiet on the Murphy Oil expansion front in Superior; sources say the much-rumored $6 billion expansion to expand refining seven-fold at the Murphy Oil facility is on the back burner because tar sand extraction in Canada, the source of refinery’s crude stock, is still too expensive to bring a decent return to investors.
Sure, oil is still a hefty $120 a barrel, and was over $140 earlier this year, but it costs $1 a barrel to recover oil in Saudi Arabia and $75-$90-per-barrel in northern Alberta province, a CNN analyst points out.
