The recent shelving of the Joslyn mine oilsands project in Alberta is a reminder of the fragile economics of the oilsands. No economic formula could be found to make the $11 billion project work and it has been put on hold indefinitely.
On May 1st, the Standing Committee on Natural Resources considered the issue of “Energy Security of Ukraine and the Rest of Europe”. Government MPs likely picked this topic because they were expecting the export of Canadian oil and gas to be the “solution” to Europe’s challenge.
What they learned, however, was unexpected. What was the most realistic way to promote energy security in the Ukraine and Europe? Energy efficiency!