RE:RE:Canada leads G20 to phase out subsidies for oilYou are quite correct.
Canada is not getting out of the oil business because in fact:
-Most of the Saudi oil fields were discovered over 60 years ago and many including Ghawar have been on waterflood (secondary recovery) for decades which means that they are entering periods of serious decline Tertiary recovery is the last resort and its coming in the next decade. And believe me its very expensive because I worked for years on these types of projects.
-USA oil shale will not reach its past peaks and with its capital intensive nature and high decline rates it too will become of less importance to the World. Most of the sweet spots that have high organic content and high silica content (fracking friendly) are now gone. DUCS in serious decline.
-World oil demand has now surpassed 100M bbls a day and wil continue to grow so heavy oils with its vast reserves (we are often called the Saudi Arabia of Heavy Oil) and very low decline rates (and capital that has already been sunk) means that our oil sands plants will be of increasing importance to the world. And of course they are in one of the most stable countries on the planet.
-I pity the people who have bought into the fraudster world of David Suzuki.