Oil sands turn land like this into oil. Image source: Getty Images.
Two years ago, it seemed that the Canada’s oil sands industry was just starting to hit its stride. In 2014, 2.3 million barrels of oil per day came from Alberta’s oil sands on the back of $201 billion of investment between 1999 and 2013. And TransCanada‘s (NYSE: TRP) Keystone XL pipeline was political leverage in the U.S. and seemed likely to pass.