[beaver fever]

There has been a lot of development in exploration and production technology but pipeline infrastructure has to be built.

Unless the project is close to existing pipeline infrastructure it is difficult to raise capital for exploration and development.

Oil sands development is similar to mining, where typically, it takes eight to ten years to prove out reserves before going into production.

On the bright side heavy oil is economical at $50 oil given that the technological hurdles have been overcome. But these projects have to be huge to be profitable and have long development cycles.

[untrained skeptic]

Well, if we keep developing other energy sources, 10 years from now will probably be about the time we'll really need another source of oil.

The time to get started is now.