Report predicts 300% oil sands production rise

By Tonya Zelinsky

 30 March 2012 01:09 GMT

THE Canadian Energy Research Institute is forecasting oil sands production could increase more than 300% by 2045 based on current and proposed project plans, writes Tonya Zelinsky.

In its annual oil sands report the institute predicted, based on a high case scenario, that output from mining and in-situ oil sands projects in western Canada will jump to 6.2 million barrels per day by 2045 from the current 1.5 million bpd. However, a more realistic forecast will see production rise to 5.4 million bpd or, according to a low case scenario, to 4.1 million bpd.

Capital investment could jump as high as C$253 billion (US$254 billion) or as low as C$190 billion between 2011 and 2045 but the realistic forecast…

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