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| This is what $3.5 billion buys you these days. |
After Suncor's CFO Bart Demosky spoke pretty critically of the project last week, the Voyageur upgrader is looking like it's going to be shelved. This is a big project - $11.6 billion according to the article, taking in 269,000 barrels of bitumen and outputting 218,000 barrels of synthetic crude each day. I'm not really sure how a project that big just gets "cancelled" like some TV show - the article says Suncor has already spent $3.5 billion on the site (it's not clear if that includes the money spent by their 50/50 JV partner, Total). I probably shouldn't use words like "cancelled", since the final decision on the project won't be made until later this month.
