Evaluation of Oil Sands Projects and Their Expansion Rate Using Real Options.

摘要

The rapidly expanding oil sands of western Canada, the third largest reserves in the world, are creating serious challenges, such as ecological harm, labour shortages, and extensive natural gas consumption. This thesis develops three practical real options models to evaluate the feasibility of oil sands projects and to estimate the optimal rate of oil sands expansion, while accounting for the stated concerns. (Abstract shortened by UMI.).