The Canadian Association of Petroleum Producers says it expects about six per cent more will be invested in Canadian upstream energy this year than in 2019, taking to total to about $37 billion, which is about half as much as in 2014 when investment levels reached $81 billion.
It lists Alberta's moves to slash corporate tax rates and ease oil production curtailment levels, as well as Saskatchewan's regulatory efficiency and recent target to boost oil output by 25 per cent by 2030. Oilsands spending is forecast at $11.6 billion in 2020, up eight per cent from an estimated $10.7 billion in 2019 and the first rise in five years.
Decent start. Keep it coming.
And so the planet burns...thanks to the billions invested by the industry & billions more in govt subsidies, it appears no one is taking the science seriously. climatecrisis climatebreakdown climatechange