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Oil Sands Investment Set for First Gain Since 2014 Crash

  • Industry group credits Alberta tax cuts, output-cut exemptions
  • Total Canada oil and gas spending to reach C$37 billion: CAPP
Athabasca Oil Sands As New Technologies Help Make Industry Profitable Again
Photographer: Ben Nelms/Bloomberg
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Investment in Canada’s oil-sands is forecast to grow for the first time since prices crashed in 2014.

Capital spending in the the world’s third-largest crude reserves is projected to rise 8.4% to C$11.6 billion ($8.8 billion) this year, according to the Canadian Association of Petroleum Producers, the industry’s main lobbying group.