Are the Canadian Oil Sands Dead?
Over the last 5 years the oil sands were among the most exciting international investment opportunities. The optimism surrounding this unique geological formation is best summarized by the statements made by Time magazine when they declared, “[the oil sands] could satisfy the world’s demand for petroleum for the next century.” (Time 2005) Recently, the price of crude oil has plunged with the hopes of the oil sands potentially plunging with it. A 65% drop in the price of crude since June has resulted in oil sands projects being delayed by some of the largest exploration and production companies in the world. This has led many to step forward and question both the short-term and long-term economic potential of these projects. With significant attention being paid to both alternative energy and the low price of crude, do the oil sands still hold within them an unequivocally large return potential and the ability to grow the Canadian energy industry into an unrivaled global sector? The exc
