The oil sands in Canada have been in production for many decades. When oil was $20 a barrel, they were producing oil and paying the cost to transport it south.
Oil sands will certainly grow faster at high prices. As will shale. But this isn’t an either or comparison. We need them both. We are still importing 7 million barrels a day of crude into this country.
Thanks. I never really understood the oil sands or their production costs.