Oilsands could lose $121 billion says analyst

Oilsands could lose $121 billion says analyst

Oilsands could lose $121 billion says analyst Canada’s oilsands could lose around two-thirds of their income if oil prices remain low according to analysis from research firm Wood Mackenzie. The 32 commercial oilsands projects would bring in $32 billion less over the next two years and $121 billion over their lifetimes if prices remain in the $60 a barrel range over a prolonged period. Production would not be cut though the research says as prices are just high enough to make a marginal profit.