Pretty darn soon, judging by the Suncor, Total $1.8 Billion Oil Sands deal....
What was originally thought to be a cyclical downturn, turned into a much deeper and widespread recession. However, the turning point falls in step with the cyclical upswing that was earlier projected. From the Billions of dollars that has been sat on in Alberta, we can start to see signs of life. 2012-2016 will be another growth period, although more tempered than the boom and 'bust' you've seen before. I suppose you can't accurately call it a 'bust' if it does, in-fact, keep going. The meat of this article is the MASSIVE and progressive deal that Total/Suncor have struck. This isn't a tentative toe in the water, it is a big a** cannon ball jump.
"A new partnership between oil sands giants will pour tens of billions of dollars into new bitumen projects over the next decade, as the world’s biggest energy companies increasingly train their attention on northern Alberta’s massive reserves."
PARIS (Reuters) - France's Total said on Friday it would spend C$1.75 billion ($1.8 billion) to forge a partnership with Suncor Energy in Canada's oil sands, the latest foreign push into a booming new source of oil wealth.
The French oil giant and Canada's largest energy company announced deals encompassing three projects in Alberta, where Asian investors have already been pouring funds into tarry deposits which have opened a new frontier in oil supplies.
Read more here and here
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