101's posted graphs explain what has happened with Canada's over dependence on a single market.
High prices drove new technology and the shale revolution in the US. Nobody expected the US to become an exporter. It happened quickly without much time for Canada and the oil sands to build infrastructure and find new markets.
Abundant better quality shale oil that is easier and cheaper to produce makes the oil sands much less viable.
If increasing EV sales keep oil prices low into the future, then the oil sands will languish as uneconomic. Market forces of supply and demand at work.
High prices drove new technology and the shale revolution in the US. Nobody expected the US to become an exporter. It happened quickly without much time for Canada and the oil sands to build infrastructure and find new markets.
Abundant better quality shale oil that is easier and cheaper to produce makes the oil sands much less viable.
If increasing EV sales keep oil prices low into the future, then the oil sands will languish as uneconomic. Market forces of supply and demand at work.
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