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Mining News: OIL SANDSToronto stocks dive for third day on growth woesindex, fell US$1.46 to US$107.89 a barrel as worries over demand overshadowed a drop in U.S. inventories. Canadian Oil Sands Trust was down 5% at $44.95. The materials sector, home to resource shares, also dragged as gold producers and other miners fell. Analysts see oil falling to US$100, then resurgencecrude by year-end. Meanwhile, analysts said the oil-price slump would have to be much deeper before affecting Canada’s oil sands industry. The price of oil fell another US36¢ yesterday in New York, to settle at US$109.35 a barrel, as Hurricane Gustav Loonie seen sagging to 90 cents in 2009US$108 a barrel. Canada is a major exporter of oil and gas to the United States, and its oil sands in northern Alberta contain the biggest supply of crude outside the Middle East. In 2007, rising commodity prices were credited with a big chunk of the Canadian dollar seen sagging to 90 cents in 2009US$108 a barrel. Canada is a major exporter of oil and gas to the United States, and its oil sands in northern Alberta contain the biggest supply of crude outside the Middle East. In 2007, rising commodity prices were credited with a big chunk of the Oil bulls say correction short-livedyear end. Meanwhile, analysts said the oil price slump would have to be much deeper before impacting Canada’s oil sands industry. The price of oil fell another US36 cents Wednesday in New York, to settle at US$109.35 a barrel, as Hurricane Gustav avoided Man dies in Alta. oilsands tailings pondEDMONTON - An oilsands worker has died at a toxic waste pond at the same industrial site in northern Alberta where two Chinese workers died last year. RCMP in Fort McMurray, Alta., were notified around noon local time about a worker who was trapped Syncrude suit ‘punitive’: Greenpeacelawsuit filed by Syncrude Canada Ltd. earlier this month aims to financially cripple the environmental group and intimidate other oilsands critics, charged a Greenpeace activist yesterday. But a company spokesman is defending the legal proceedings, Canadian dollar takes a hit from weak equitiesbit of a roller-coaster session, with its price moving from slightly positive to negative and back again. Canada’s oil sands contain the biggest deposit of crude outside the Middle East. Canada is also the biggest supplier of oil to the United States. Weak Canadian economy helps homebuyersrising nearly 300 points, buoyed by speculation about increased investment following news reports of a visit to the oil sands this week by multi-billionaires Bill Gates and Warren Buffett, as well as the announcement of the Hebron offshore oil deal by Two-jawed mutant fish fuels oilsands dissentCALGARY - A northern Alberta native band that displayed a deformed, two-jawed fish at a weekend water conference says the grotesque specimen has ramped up efforts to collect evidence to show Alberta’s oilsands are poisoning both wildlife and people. The Buffett and Gates tour Alberta oilsandsCALGARY — Two of the world’s richest people, Microsoft Corp. founder Bill Gates and his friend, American investment magnate Warren Buffett, quietly flew into northeastern Alberta on Monday, where they took in the oilsands, apparently with awe. Mr. Super-rich duo make oilsands visitCALGARY - Two of the world’s richest people, Microsoft Corp. founder Bill Gates and his friend, American investment magnate Warren Buffett, quietly flew into northeastern Alberta on Monday, where they took in the oilsands, apparently with awe. Buffett Two-headed fish caught in lake downstream of oilsandsFORT CHIPEWYAN, Alta. - Information about a mutated fish caught downstream from Alberta’s oilsands region will be sent to a joint government-industry group that monitors the health of rivers and lakes. The 2.5-kilogram goldeye caught last week in Lake First Nations demand oil sands moratoriumFORT CHIPEWYAN, Alta. - Aboriginal leaders have declared war on the oilsands, vowing to go to court to stop what they say is the destruction of their land and the poisoning of their water. Chiefs from three provinces and the Northwest Territories made Oil sands miner Suncor profits up 12 percent in 2QRecord crude prices more than offset lower production at Canada?s No. 2 oil sands miner in the second quarter. Author: Scott Haggett CALGARY, ALBERTA (Reuters) - Suncor Energy Inc (SU.TO: Quote), Canada’s No. 2 oil sands producer, said on Thursday that Greenpeace breaks into Syncrude operation to protest oilsandsFORT MCMURRAY, Alta. - A group of Greenpeace activists who broke into a Syncrude Canada Ltd. operation in northern Alberta to draw attention to a campaign against oilsands development have been arrested, ticketed and released by police. The protesters Toronto stocks tumble as banks get hit hard(read more) Synenco Energy shot up 14% after French energy group Total sweetened its takeover bid for the oil sands start-up to about $530.5 million. Synenco rose $1.25 to $10.21. Investors took in a round of corporate results, including Nova Chemicals, Teck Cominco: Oil Sands Future Hedge For Rising Energy CostsExtract not available. Total boosts offer for oilsands operator Synenco to $10.25 per shareCALGARY - French energy giant Total SA has increased its bid for oilsands operator Synenco Energy Inc. (TSX:SYN) to $10.25 cash per share, an offer that values the company at about $530.5 million. Total’s previous offer of $9 per share for Synenco, which Arctic holds up to 22 % of world’s untapped energy reserves: U.S. studyundiscovered oil. That accounts for 13 per cent of the world’s total undiscovered reserves. By comparison, the Alberta oil sands are estimated to hold about 173 billion barrels that can be extracted economically. The Arctic actually appears to be far |
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