It's the single largest hydrocarbon deposit on the earth, and it's next door to the biggest market for oil products, the United States. What's wrong with it? It's crap oil. |
The good news is, once you've got those pots and pans on the ground, you never run out of oil. The resource is almost infinite, so we never decline. |
You've got to use a lot of energy and a lot of pots and pans to extract it from the sand, and you have low-quality oil. It's a high-cost business and a lot of capital and a lot of operating costs. |