On the same day the Obama Administration put the kibosh on the Keystone XL pipeline, two engineering contracts totaling $12.2 billion were awarded to two U.S. companies for work in the Alberta oil sands. One included a $750 million contract to a Chicago-based company for work on Exxon’s huge Kearl Oil Sands project, one of [...]
With the price of gas now trading at a record low—one third that of oil (per unit of energy)—its hold over the price of its hydrocarbon cousin should be its strongest ever. Yet oil prices have not only resisted gas’ gravitational pull but have moved in the opposite direction over most of the year. And [...]