[thackney]

Just the knowledge that the Saudis can do this anytime they want — and wipe out huge investments in oil sands or oil shale — is enough to prevent really large capital investment.

There are $150 Billion in new projects are various stages ongoing.

Inventory of Major Alberta Projects
http://www.alberta-canada.com/statpub/albertaConstructionProjects/mpindex.cfm
Scroll down, select "Oilsands" and click "Submit"

[Kellis91789]

Thanks for the info. $150B surprised me and it seems like a lot, considering there is already over 1M barrels per day in production and as of 2006 the projects planned will only bring that to 1.7M over the next decade.

At 1M barrels per day and current oil prices yielding $60/barrel profit, that is $22B/yr profit. Is the $150B additional investment supposed to yield more than the additional 700K barrels per day reported in 2006 ?