hey steve,it might be economical, but there are environmental...

hey steve,

it might be economical, but there are environmental consequences. Oil sand projects usually require 2-6 barrels of water to produce 1 barrel of oil. And the water is very contaminated. Given current technology, with a high CAPEX, they can purify this water. But given the demand in the short-term its unlikely they use this method on a large scale. It would not be effective in the longer term.

This is definitely an area of interest in the longer term. The company which develops the technology (with low CAPEX), would definitely make an attractive investment as it would unlock oil reserves in the trillions.

However in my opinion in the shorter term, the offshore deepwater oil reserves (given the significant OIP targest) are more attractive for companies. Although many of are a wildcat nature.