AN UPDATE ON THE FUTURE OF OIL SANDS
Oil from oil sands is a strategic resource for Canada and North America accounting for over 35% of Canada's production. Capital investment to increase production is at a rate never before experienced from any industry in Canada on over 63 projects. Since 1996 over $50 billion in oil sands projects has been announced with over $11 billion spent as at the end of 2000 and $6 billion being spent in 2001. This paper deals with the growth and impacts on the region, the province and Canada and the technology that has allowed the growth. Millions of dollars a year are being invested in research at almost every University in Canada to improve the proceeds, increase yields and lower costs.