Wednesday, June 15, 2005

Canada – the new Saudi Arabia?

Interesting article in the WashPost on petroleum extracted from tar sands in Canada – Where oil is mined, not pumped – High demand for petroleum makes a boomtown in northern Alberta: “Factoring in the oil sands, Canada's proven oil reserves are reported to be nearly 180 billion barrels, second only to Saudi Arabia.” That's a lot of oil, eh? Technological advancements have made the process profitable when oil is over $20/barrel...and it is.

No comments: