I am no economist, but my understanding is that Alberta's oil sands must be extracted via fracking, which is expensive and only profitable when oil prices are high. That there is lots of oil available is besides the fact if it is no longer economically feasible to extract it.

This quality of the oil makes Alberta extremely sensitive to pricing shenanigans OPEC plays every once in awhile.

A couple years back when oil prices were artificially low, it was due to OPEC pricing oil well below even their cost, purely to drive other oil producers out of the game.