‘Mad scramble’ for assets seen

Canada’s oilsands are becoming such significant global oil suppliers there will be a “mad scramble” in coming years to purchase oilsands assets, two new reports predicted yesterday.

Jeff Rubin, chief economist at CIBC World Markets, said the oilsands are poised to become the single biggest contributor to net new global supply by the end of the decade, with growth in production on the drawing board exceeding even that planned by the world’s largest oil producer, Saudi Arabia.

Canada.com