Oil sands boom

The oil industry goes through many boom-and-bust cycles. Some cycles are global in nature, affecting the entire industry. Other cycles impact only certain regions as discoveries are made, produced, and depleted. And then possibly a region revives again with introduction of new technologies and insights or changes in economic conditions.Alberta's oil sands sector currently is in a boom period, with some forecasts expecting an 11% ultimate recovery from the 1.6 trillion bbl of bitumen in place, using current technologies and at anticipated economic conditions. Recovering bitumen involves both mining and in situ techniques.Current production is about 1 million b/d, and most forecasts pre...

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