Alberta\u0027s oil industry is earning record profits and blowing past production goals.
Alberta’s oil industry is earning record profits and blowing past production goals. But the industry also has no interest in investing in large expansions of existing sites or building any new megaprojects.
The last oilsands boom started in the early 2000s and ended in late 2014 when global oil prices plunged. Bowman said a future boom will be a scramble to fill existing labour shortages in the community and the oil industry. He also said the needs of the community are better understood by industry and the province.
“The infrastructure that we had at that point did not support the kind of growth that we were experiencing,” said Blake. “We’re much better off if it were to occur again.”
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