My understanding of noninvestment came from hasty readings of articles from BusinessWeek and the Wall Street Journal. Investment in Alberta would be somewhat different. It would not require much effort looking for deposits, I assume, but rather looking for technologies to make the extraction more economical.
I have no idea why they are not investing. They may know something that I don't. On Mon, May 08, 2006 at 09:45:26AM -0700, paul phillips wrote: > Michael, > I don't know that this is necessarily in conflict with the refinery > question. Why are they not investing in exploration (though you would > have few supporters for that contention in Alberta these days)? Do they > think that oil prices are only a bubble and will fall precipitously and > undermine the profitability of exploration today? Or do they think > that there are few promising areas for exploration which are not > already being explored or developed which is the contention of the peak > oil people? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
