Another factor determining the viability of oil extraction from the oil sands is the price of oil. The oil price increases since 2003 have made it profitable to extract this oil, which in the past would give little profit or even a loss. By mid-2014, rising costs and stabilizing oil prices threatened the economic viability of some projects. An example of this was the shelving of the Joslyn North project in the Athabasca region in May 2014.
AnotheR fActoR deTeRMining THe ViaBiLiTY of oil exTractIon From The OIL sands iS tHe PRIcE OF oil. tHe oIl PrIcE incReASes sINce 2003 have made It prOfItAblE To eXTract thiS oiL, wHiCH iN the past would give LitTlE Profit or EVeN a LOss. bY mId-2014, rISInG cOsTs and stabIliZIng Oil prices tHrEATened The EconomIC viabilIty Of SoME projectS. aN eXamPlE Of tHIS was the ShelViNg OF tHe joslyN NOrth project in the AthaBascA regIOn iN MAy 2014.