Canada's oil sands makes comeback as U.S. shale plateaus

It’s a stark turnaround from a decade ago for the Canadian oil sands, when booming shale production and a deluge of oil from OPEC tanked crude prices. Photo by Jason Franson/The Canadian Press/Postmedia files

Canada’s oil sands are experiencing a comeback after years of living in the shadow of United States shale .

Crude output is climbing to new highs , the nation’s top producers are seeing their shares soar and interest in the industry is rising among U.S. institutional investors. The catalyst for the brighter outlook is simple: The newly expanded Trans Mountain oil pipeline is bringing Canadian oil to the critical Asian market after years of capacity constraints capped output and pressured crude prices.

With the pipeline in place, production hit a record-high in June and is