What made the boom in the Canadian oil?

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2026-02-14 13:15

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The boom in the Canadian oil industry was primarily driven by the discovery and development of vast oil sands reserves, particularly in Alberta. Technological advancements in extraction methods, such as steam-assisted gravity drainage (SAGD), made it economically viable to tap into these unconventional resources. Additionally, high global oil prices in the early 2000s spurred investment and expansion in the sector, leading to increased production and export capabilities. Finally, strong demand from international markets, especially the U.S., further fueled the growth of Canada's oil industry.

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