Canada's oil sands growth seen steady

The last 18 months have been extremely difficult for Canada’s oil sands industry as it struggled with spiralling production costs in the first half of 2008, followed by plummeting oil prices and lack of access to credit. According to energy consultants IHS CERA, more than 70% of proposed projects have been postponed since the price of oil declined in the second half of 2008.

However, while access to capital is likely to continue to constrain some projects, today’s lower-cost environment coupled

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