SUGAR LAND, TX -- (Marketwire) -- 01/11/12 -- Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Development of Canada's massive oil sands deposits will continue despite delays in plans to construct two pipelines -- Keystone XL and Northern Gateway -- that would bring the oil to market, Jesus Davis, Industrial Info's vice president of research for the Oil & Gas Production, Transmission and Terminals industries, said in an exclusive "Navigating the Currents of Change" interview. "I don't expect any (pipeline) delays will affect project spending on oil sands crude oil production; the crude will still come down to the U.S. via existing pipelines or other proposed pipelines," said Davis.
Development of Alberta's oil sands continues to grow rapidly: Davis said the province's oil sands-related project spending is scheduled to exceed $20 billion in 2012, though he doesn't expect all of that spending to occur as planned.
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