Lower-for-longer market forecasts mean megaprojects on hold The era of megaprojects in Canada’s oil sands is probably over as crude is seen staying lower for longer, some of the biggest developers said. Producers that envisioned multibillion-dollar expansions when oil was over $100 a barrel are now opting for bite-sized additions after a price crash shook the energy industry. While some production growth is still expected in a market rebound as companies cut costs with new technology, massive developments are on hold, according to executives from Suncor Energy Inc., Cenovus Energy Inc. and Meg Energy Corp. “The years of large, multibillion-dollar projects are probably gone,” Alister Cowan, chief financial officer of Suncor, said Tuesday at the CAPP Scotiabank Investment Symposium in Toronto. Fort Hills, the C$13 billion ($10 billion) project being pursued by Suncor and Teck Resources Ltd., will probably be the last oil-sands mine built for many years, he […]