Canada Oil Sands in Race With Shale, Batteries for Survival

5 Oct 2016   Canada, Tar Sands

Canada’s oil-sands industry is in a race with other forms of crude production and emerging technologies such as electric cars to remain a relevant energy source in the coming decades, according to consultancy Deloitte LLP. Among various scenarios, oil-sands producers face the risk of a “forced transition” away from oil and natural gas as power generation is dominated by solar panels and wind turbines and as electricity replaces oil as a transportation fuel, Deloitte said in a report released Tuesday. Most of Canada’s oil and gas would be stranded and only the lowest-cost producers would survive by spending on innovative technology. “Companies should reflect on what actions they might take today to provide resilience in the face of different future scenarios,” Andrew Swart, Daniel Rowe and Paul Craig wrote in the report. Companies including Suncor Energy Inc., Imperial Oil Ltd. and competitors have been slashing operating costs as they […]

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