Article: Koch bails on oil sands scheme.(Koch Industries' subsidiary TrueNorth Energy's oil sands project in Alberta, Canada)(Brief Article)

The Kyoto climate change pact has officially claimed its first victim in Western Canada's oil sands industry. TrueNorth Energy shelved its proposed 190,000 b/d Fort Hills oil sands project in northern Alberta last month citing market uncertainties, the impact of Kyoto, and soaring costs. High labor and equipment prices forced TrueNorth, a subsidiary of US Koch Industries, to hike cost estimates 40% to C$3.5 billion (US$2.2 billion) last spring and it has since failed to find a partner to help ...

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