Oil sands face uncertain future in post-peak world
The long-term prospects for the sector may depend on the rate of decline in global oil consumption
Supporters and critics of Canada’s oil sands sector are broadly optimistic in their short- and medium-term outlooks, but they diverge sharply when looking further ahead. In the longer term, proponents are optimistic about Opec+ cohesion and crude prices as global oil consumption declines, but others are pessimistic. This leads to differing views on how the federal government should spend its decarbonisation dollars. Petroleum Economist interviewed G. Kent Fellows, a professor at the University of Calgary, and Aaron Cosbey, a senior associate at Winnipeg-based International Institute for Sustainable Development to learn more about these alternate perspectives on how the oil sands industry mig

Also in this section
17 February 2025
There is a growing feeling that it will not take much for heavy international hitters to follow the US out of the Paris Agreement
14 February 2025
The start of private LNG imports may trigger an evolution in the country’s policy of energy security to encompass commercial exploitation
13 February 2025
New supply from Argentina, Brazil and Guyana is rich in middle distillates, but optimism in terms of volume growth remains tempered by regulatory and technical risks as well as price volatility
12 February 2025
The oilfield expansion provides a fresh influx of revenue but will strain its cooperation with OPEC+ and fails to mask deeper issues with the economy and investors