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 ?
$150B (Canadian, not that there is much difference today) is a lot. That is projects in construction now and in different stages of design and permitting going out for the next decade.
From: Oil Sands Resources, Production and Projects
http://www.capp.ca/default.asp?V_DOC_ID=1162
Canadian Association of Petroleum Producers
Oil sands now account for 39 per cent of Canada’s total oil production at approximately one million barrels per day. By 2020, production will grow to four million barrels per day.
Total Canadian production is projected to increase from the current 2.5 million barrels per day to reach 4.9 million barrels per day (b/d) by 2020.