Despite working in a weak market, two companies — Husky Energy and ConocoPhillips — announced the start of new oil operations in Canadian oil sands. Husky announced the start of operations at its Sunrise energy project in Alberta. Production began in April and the new phase of development should put the project closer to full capacity of 60,000 barrels of oil per day by the end of next year. Data from the Canadian Association of Petroleum Producers show oil sand deposits, centered largely in Alberta province, hold an estimated 167 billion barrels of oil, the third largest reserves in the world. Canada depends heavily on oil and natural gas for government revenue. With crude oil prices more than 50 percent below mid-2014 levels, the nation has teetered on the brink […]