Canadian oil sands supply outlook : an optimistic view

This presentation outlined the history of Canada's oil sands production, with reference to its growth and reasons for success. In 2003, the oil sands based production in Canada reached 1 million barrels per day, enough to supply 50 per cent of Canada's energy needs. By 2005, oil sands production will most likely exceed Western Canadian conventional crude production. It was noted that even with these large production numbers, only 10 per cent of Alberta's oil sands reserves have been developed. Continued success and growth will depend on the competitiveness of the industry in a global context, maintaining access to the resource, and efficiency in capital and operating activities. It was emphasized that both industry and government will have to cooperate to meet growing energy demands and expectations of stakeholders. tabs., figs