Canadian heavy crude is a cornerstone of global oil supply now and into the next decade. But growth is likely to be increasingly affected by investor sentiment soured by environmental concerns and competition for capital from tight oil. Both factors have already begun to reshape the domestic corporate landscape. How many oil producing countries can predict with some confidence that they can increase output over the next decade? Outside OPEC, we reckon the answer is just three, a fraction of the thirty or more non-OPEC countries that will contribute 53 million b/d to global oil supply this year. Those three power houses are: USA, driven by tight oil; Brazil, by the giant deep water pre-salt fields of the Santos basin; and Canada, by the extra-heavy crude of its Albertan oil sands. Canada is already the third largest non-OPEC producer (behind the US and Russia) with 4.4 million b/d, and […]