(Bloomberg) -- The growth engine of Canada’s energy industry is poised to shut off next decade, according to the International Energy Agency.

Production gains from the oil sands in northern Alberta will slow dramatically or come to a halt as crude prices remain low and costs too high for one of the world’s most expensive sources of oil, the agency forecast Monday in a report on the global medium-term crude market. Environmental concerns, a lack of new oil pipelines and uncertainty about policy in Alberta are also causing companies to slow development work, the report said.

http://www.downstreamtoday.com/news/article.aspx?a_id=51168

So Bloomberg is projecting that the price of oil will remain at this rate forever? What happened to the paranoia about peak oil and runaway oil prices?