We need oil; it's a simple as that. All the talk of alternative forms of energy is interesting, but I don't see any of them playing anything more than a bit part in our overall energy needs for the next decade. The world has plenty of oil, but it's just that the oil we have is harder and more expensive to get than the oil we've had. The technology exists today to extract energy from oil sands, there is a bunch of oil in the sands, and I think they will play an important part in providing energy to North America for decades to come. CNQ is executing well on its Horizon project and will be poised to generate nice free cash once all of the production comes online.
$85.59 (07/19/08)
