Capital spending in US, Canada to rise led by pipeline investment boom

Conglin Xu Senior Editor-Economics Led by an investment boom in pipeline construction, capital expenditures for oil and gas projects in the US will increase 10% to $348 billion in 2013, following a 7% increase in spending last year. In response to a dramatic expansion of US pipeline construction and increased labor and material costs, pipeline expenditures this year will zoom to $38 billion from $8 billion the previous year, according to OGJ's annual capital spending outlook. Exploration and production spending in the US is likely to fluctuate little this year. Canadian spending will climb 6% to $78 billion (Can.) this year, according to OGJ estimates. Pipeline expenditures will surge to ...

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