Driving north in the spring from Calgary to the Regional Municipality of Wood Buffalo, one watches the rolling golden prairie slowly turn to a delicious mixture of needle- and broad-leaved trees and shrubs, and one may know that beyond the highway lies a complex ecosystem that includes a variety of wildlife, forest, and wetland. The prairie and the forest are of great importance environmentally, and offer great wealth economically.

Terrestrial conservation offset programs are meant to protect all ecosystems affected by development, and oilsands producers are taking advantage of available opportunities. In our environment feature this month, read about which producers are engaging this possible counterbalance, how it works, and recent national recognition that has been achieved.

The industry is, of course, always changing. Late last year, there was an important logistical development. The historic Athabasca Northern Railway was purchased by CN Rail, after months of uncertainty about the line’s future. It is the only rail connection to the Athabasca oilsands deposit, and has been struggling to support increased heavy traffic without major investment to improve its infrastructure. In our special logistics feature, staff writer Paul Stastny takes a look at CN’s plans for the railway, and what the new investment will mean for oilsands producers and other industry in the Regional Municipality of Wood Buffalo. The new dollars offer a breath of life into a deteriorating asset.

Dollars are ultimately what drive oilsands development. This issue includes not only our regular quarterly analysis of key mining and in situ producers’ results, but also an in-depth look at the annual reported data. Regular contributor Darrell Stonehouse offers a detailed look at netbacks, bitumen prices, operating costs, and much more. It is an important time for the industry as product prices and production volumes rise.

But of course, it wouldn’t be the oilsands industry if everything was about easy benefits. It faces high capital costs, operational upsets, and new financial obligations, in addition to many social and environmental tests. And then there is technology and the constant need to improve it for reasons that address all of the above.

The people who lead this industry seem to be energized by the very thought of embracing and taking on these challenges. Although ConocoPhillips’ Matt Fox is not from Alberta—in fact, he comes all the way from Scotland—his eyes glimmer when he talks about the province’s unconventional oil. Perhaps it is because he has been working in the energy industry for close to 25 years, from the North Sea to Dubai to Alaska’s North Slope. This month, we met with Matt Fox and found out what drives him to push forward ConocoPhillips’ big plans for bitumen.

Deborah Jaremko

djaremko@junewarren.com