Journalist Paul McKay posed these questions in a April 26,2018 National Observer article Media Malpractice and the Bitumen Bubble
Where are the Asian contracts to buy vastly more raw bitumen for decades? What price have they promised to pay? How does that square up with competing, global oil supply rivals?
• What proof is there that Asian refiners have signed contracts to purchase vast volumes of Alberta raw bitumen for decades to come? If these do not exist, there is no demand.
• What proof is there that Asian refiners are willing to contractually commit to a much higher price than U.S. refiners will pay for raw Alberta bitumen? If such contracts do not exist, there is no price certainty to support oilsands expansion.
• What proof is there that Alberta bitumen ranks high in global comparisons of oil quality, price, and ocean supertanker access, shipping costs and speed?
• Which private Big Oil players have recently placed big bets buying new, undeveloped oil sand properties, which would underpin Alberta’s expansion plans?