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SPECIAL REPORT: Capital budgets grow in US, drop in Canada

04/28/2008
Capital spending for oil and gas projects in the US will increase this year, buoyed by growth in upstream, midstream, and downstream developments and maintenance. The growth rates of US upstream and downstream spending will exceed those of last year.In Canada, total project spending will decline but by a smaller margin than it did a year ago. While oil sands expenditures will increase, outlays for most other types of projects will shrink.Capital budgets will be pulled by higher costs for materials, equipment, and labor, all of which are in high demand. Labor cost pressures are especially strong in Alberta.Total budgets for capital spending in the US this year are estimated at $197 billion...
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