The oil sands of Alberta have attracted a lot of attention recently, not just because of the wildfires that took a lot of production offline in May, but also because of longer-term issues such as environmental protection and oil price trends. It seems, however, that they have a reasonably bright future ahead of them. A GlobalData report has revealed that total capex investments in the oil sands stand at $82.8 billion, of which $40.6 billion worth of new and expanding projects are seen to come on stream over the next ten years. That’s pretty impressive against the backdrop of divestments and cost cuts that have plagued the local oil industry thanks to the oil price rout. The oil sands are a major contributor to the Canadian GDP. Last month Statistics Canada reported that, because of the wildfires, GDP in May fell by 0.6 percent, which was the […]