Fifty years ago tomorrow, the Great Canadian Oil Sands facility opened north of Fort McMurray, Alta. It was the first large-scale commercial operation of the oilsands. Fast forward to today, and the oilsands make up about three per cent of the global supply, according to the Arc Energy Research Institute. Hundreds of billions of dollars have been spent; about three million barrels a day are expected in 2018. But what about 50 years from now? The question may not be about supply, but about demand, which is tricky to forecast. France, the U.K., China and California are all either planning on or thinking about banning the combustion engine.Source: CBC news.
