July 2009
Amidst the noise of “dirty oil” optics associated with the oilsands industry, there’s a green revolution slowly catching fire right at its heart—even Fort McMurray can be green and environmentally friendly.
Despite the fact that the City of Cold Lake is located in one of the few remaining economic bright spots of Alberta, with expanding heavy oil projects and Canada’s largest air force base giving it a stable economy, the municipality is in deep financial trouble and likely has no alternative but to dissolve itself.
You know you’re in California when a great parking space can move you to tears, when a low-speed police pursuit can interrupt any TV broadcast, when the fastest part of your commute is down your driveway…
Canada’s oilsands miners found themselves in the middle of the economic tsunami engulfing the world in the first quarter of 2009, with dramatically lower crude prices wiping out cash flows and profits across the board.
In situ oilsands producers continue expanding production and planning for the future despite the downturn in oil prices from peak levels last year.