End of the boom?
Canadian oil sands production has grown rapidly in recent years, but are rising project costs and falling oil prices now jeopardising projects? Pauline McCallion investigates
With soaring oil prices making the economics of oil sands projects much more viable in recent years, Canadian oil sands production has been growing rapidly. According to the Canadian Association of Petroleum Producers (CAPP), between 2000 and 2007 oil sands production grew 95%, from 609,000 barrels per day (bpd) to 1.19 million bpd. Industry revenues have grown from C$8 billion ($6.7 billion) to C$24.1 billion over the same period. Industry investment in Alberta's oil sands was estimated at C$16
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