April 2009 Vol. 236 No. 4

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Canadian Energy Institute Releases Oil Sands Report

The Canadian Energy Research Institute (www.ceri.ca) reports that in light of the uncertainty and pessimistic statements surrounding the future of Canadian oil sands, it has decided to release an Oil Sands Briefing for industry, government, and members of the public to download. The briefing can be downloaded(PDF) at CERI’s website.

The briefing provides insight into future production projections for the oil sands over the next decade and out to 2030, based upon several oil price projections and a global economic recovery. The briefing also considers the impact that reduced production could have on new capital spending in Alberta. “The CERI 2009 Economic Slowdown Projection indicates that CDN 218 billion will be invested in the oil sands for new production. This is CDN 97 billion less (the ‘loss’) than previously projected under the CERI Reference Case Projection (2008) and a shocking CDN 241 billion less than the CERI Unconstrained Projection (2008).”

Questions and comments can be directed to the author of the report, David McColl, dmccoll@ceri.ca.