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20-Jan-2018 10:27

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Today, the oil sands and supporting sectors generate economic benefits across the country.Various projections forecast oil sands crude production will rise to over 3 mb/d by 2020.

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Oil sands development is subject to strict environmental standards.The industry is one of Canada’s largest employers, with more than 400,000 people deriving direct, indirect and induced employment from the oil sands and supporting sectors.In 2014, production from the oil sands was about 2.3 million barrels per day (mb/d).PDF version, 1.57 MB The oil sands are a strategic resource that contributes to economic opportunity and energy security for Canada, North America and the global market.

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The oil sands comprise 167.2 billion barrels of crude oil – 97 percent of Canada’s 172.5 billion barrels of proven oil reserves – and are a vital part of the Canadian economy.

Major oil sands projects require substantive environmental assessments before they are approved.