Oil sands rush needs to pause

During his tenure as Alberta premier, Peter Lougheed was known as a reflective man whose observations were often astute. So when he calls for a moratorium on oil sands projects until public hearings are called to reflect Albertans’ wishes, it’s well to sit up and listen.

Retrieving black gold from the oil sands is so costly it didn’t become profitable until the price of crude skyrocketed. The ensuing boom drove up labour and material costs by up to 50 per cent. Housing costs in Alberta have gone through the roof. But booming economies can quickly overheat. Lougheed points out too many projects were given the green light at once.
London Free Press