Canada’s oilsands poised for age of optimization

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The epitaph of the Canadian oilsands has been written many times, but far from dying production is actually expected to rise — by about 500,000 barrels per day, or 15 per cent by 2030.

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That’s according to S&P Global Commodity Insights, which last week raised its 10-year oilsands production outlook for the first time in over half a decade.

This week on Down to Business, Kevin Birn, Canadian oil markets chief analyst for S&P Global Commodity Insights, explains where the added production comes from — given that no one is building new oilsands projects or even adding infrastructure to expand existing sites.

Rather, Birn describes an age of “optimization.” Through efficiency, consolidation and optimization including “high-grading” assets, oilsands production will grow. This episode probes what this says about the energy transition.

As always, it is edited for clarity and brevity.

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