Canada's oil sands developers will emerge from the economic downturn smaller in number and ready to advance projects at a more measured pace than during the boom, a debt rating agency said on Wednesday. Moody's Investor's Service said today's slowdown should be a boon for the sector overall as high-cost plans get scrapped and development costs drop. Since last autumn, companies have deferred or canceled more than C$90 billion ($81 billion) worth of Alberta oil sands projects.
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