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Originally Posted by Traum
Isn't that mostly due to our oil sand's high production cost and the US shale oil's significantly lower production costs?
I always thought the problem is a lot bigger than just not having enough pipelines to move products.
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Global oil demand is slowly growing. 2020 is projected to be almost 102 million barrels a day. Price is kept low because the US and Saudis keep pumping more than we can use.
https://www.statista.com/statistics/...nd-since-2006/
Canada's oil is expensive because it's hard to get it out of the ground therefore nobody wants it. We can't really make a profit unless it's about $100/barrel (could be wrong, haven't looked at that number in years).
Canada's oil industry won't really take off until all the easy to extract oil is used up and all that's left is the oil sands.