Oil prices have been tightly tied to Canada's economy, oil and gas bring in huge revenues and are a major driver in our economy. A significant reason the Northern Gateway pipeline is so important to Canada (and why the government is pushing it through) is that it opens up other markets than just the Americans. Selling to other countries gets us a better rate (Brent Crude vs West Texas pricing), plus a diversified market. The government will step in and assist through tax incentives or other grants to keep the oil sands producing - at least its my opinion they will.

Teck sees this and they have stated it is priority #1. They also wanted to diversify so they are not so vulnerable to coal or metal prices.

Yes, anything could happen - the future is unknown.

But the world's thirst for oil continues to increase, with no viable energy alternative on the horizon. Time will tell. Will long term prices stay low? I wish I had a crystal ball...