This report examines the short-and medium-term economic and profitability outlook for Canada’s Oil Extraction Industry.
Canada’s Oil Extraction Industry: Industrial Outlook Winter 2011
Canada’s Oil Extraction Industry: Industrial Outlook Winter 2011
Industry Economic Analysis
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- Investment—The industry is expected to invest heavily in new oil sands capacity, which will lay the foundation for a strong production profile.
- Costs—Keeping costs from escalating too quickly will remain a key concern for the industry over the forecast. Labour supply issues will keep wage growth well above the Canadian average, and input prices will increase as the pace of investment picks up.
- Trade—Domestic demand will not keep pace with incremental oil capacity—which means the industry’s export capacity will increase dramatically over the forecast. Work is already under way to ensure significant export pipeline capacity exists.
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