"Suncor 'oil sands profitable at $50 crude'"

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Existing oil sands operations generate double-digit returns with oil around $50 a barrel and costs of new projects have started to fall in the industry downturn, the chief executive of Suncor Energy said.

The economics for Suncor - which has launched a C$18.4 billion ($15 billion) takeover of Petro-Canada - are closer to break-even with oil at $40 a barrel, but prices may only dip that low once more this year, chief executive Rick George said.

"You can make a great return, double-digit, well above our cost of capital, in the high $40 and low $50 range," George told an energy conference hosted by the CFA Institute...