Capital investment in Canada’s oil and gas sector declined by an estimated 44 per cent from 2014 to 2017.
Cenovus recently announced it will cut production from some of its oilsand projects.
Without adequate access to pipelines—the cheaper and safer mode of transportation—there has been a shift to more crude-by-rail.
Price controls led to long lineups and dry tanks at gas stations.
Fort McKay has prospered by selling services to oilsands corporations.
The Trump administration has significantly improved the business environment in the U.S.
Four indigenous groups support construction of $20.6 billion mine north of Fort McMurray.