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Spending cuts derail chain of new oil projects

Collapsing oil prices starve companies of cash, cripple growth, set up potential for supply shortage in future

Chicago

DANGEROUS and difficult oil fields that looked like goldmines when crude fetched more than US$100 a barrel have turned into money pits as oil crashes to multi-year lows.

Collapsing oil prices not only shrink profits for producers and imperil dividend payouts prized by