Oil sands no quick fix as Big Oil leaves Venezuela

For Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) and ConocoPhillips (COP.N: Quote, Profile, Research) it may appear simple: shift efforts, people and resources to Canada’s oil sands now that the oil majors have retreated from Venezuela.

In reality, it’s no simple matter.

The oil sands have their own set of risks: surging costs due to a squeezed labor force, technical complexity and a shrinking pool of attractive available properties.