Does the shelving of the Total SA Joslyn mine signal that the recent wave of oil sands investment has peaked? This past week, Total SA And their business partners decided to shelve the Joslyn Mine project , which places $11 bn in oil sands investment into the “unlikely” category. As an economist, I always look at other informal indicators of macroeconomic trends. Some other informal indicators are pointing to a crest in the recent wave of oil sands investment. – The price of diesel at the pump is approaching its 2007 levels, which raises variable costs for operating machinery. – Multiple fatalities in oil sands projects as S-A-F-E-T-Y is trumped by P-R-O-D-U-C-T-I-O-N. – Companies shedding contract employees, layoffs or hiring freezes as corporations regroup. – House flipping is back in Calgary as more people enter the market to sell $600,000 duplexes. – More frequent instances of rude wait staff […]