TORONTO—Major oil providers, beneath strain from traders and environmentalists, are fleeing Canada’s oil sands, the fourth-biggest oil reserve in the environment and by some actions just one of the most environmentally unfriendly. Financial investment in existing assignments has stalled, and banking companies are refusing to fund new ones.
Nonetheless, oil generation there is predicted to go on for at least two much more a long time. Local firms have stepped in to continue to keep doing the job the current mines and wells. Previous yr, the oil sands were on keep track of to provide much more oil than at any time.