Carbon Tax To Force Large Oil Company Out Of Canada 

in Canada/World by

British Petroleum is looking to sell their Canadian assets and invest in more attractive regions, such as the United States. 

From FP:

BP has discussed with advisers the possibility of selling the stakes, though no final decision has been made, the people added.

If the sale proceeds, BP would deploy capital in more attractive regions, such as the Permian basin in the United States, where the rate of return tends to be higher, one of the people said.

Faced with a lower oil price environment and challenging economics, which include high cost operations and carbon taxes, global players are increasingly put off by the oil sands.

Husky Energy has shown interest in buying the stakes if they go up for sale, but unsure at this point. 

Read the full story here