We spend so much time in unstable parts of the world getting oil (Saudi Arabia, Iraq, Iran, Kuwait, Libya, Nigeria), why don’t we get it from the country right next door.
Canada’s proven oil reserves were estimated at 179.2 billion barrels as of 2007, placing it second only to Saudi Arabia. Over 95% of these reserves are oil sands deposits in the province of Alberta. Although Alberta contains nearly all of Canada’s oil sands and about 75% of its conventional oil reserves, several other provinces and territories, especially Saskatchewan and offshore Newfoundland, have substantial oil production and reserves. Total Canadian oil production was about 1.2 gigabarrels in 2006, giving Canada about 150 years of reserves at current production rates.
It’s closer, safer and there isn’t a huge Ocena between us and them.
Over 99% of Canadian oil exports are sent to the United States, making Canada, not Saudi Arabia, the United States’ largest supplier of oil.
The picture is complicated somewhat by the fact that Canada has a highly sophisticated energy industry and is both an importer and exporter of oil and refined products. In 2006, in addition to producing 1.2 gigabarrels, Canada imported 0.44 gigabarrels, consumed 0.8 gigabarrels itself, and exported 0.84 gigabarrels to the U.S. The excess of exports over imports was 0.4 gigabarrels.
Analysts estimate that a price of $30 to $40 per barrel is required to make oil sands production profitable. With oil prices at $100 per barrel, oil sands production has become profitable enough to trigger over $100 billion worth of new oil sands projects.
The biggest constraint on oil sands development is a serious labor and housing shortage.
So be patient, maybe the cost at the pumps will come down and the Oil Sheiks will be begging in the streets.
October 30th, 2009 at 5:32 pm
We do get oil from Canada.
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October 30th, 2009 at 6:11 pm
Because America needs to stop depending on oil. We should be focusing on alternative fuels and ways to save our planet, not ways to keep being depended on oil
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October 30th, 2009 at 6:26 pm
because bush doesnt have any investments in canadian oil duh
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October 30th, 2009 at 6:59 pm
Make it a big oilfield? Sounds good.
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October 30th, 2009 at 7:14 pm
I wonder why we don’t tell all the NIMBYs to piss off and drill right here in the USA.
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October 30th, 2009 at 7:43 pm
America imports more oil from Canada than any other oil exporting country. What we really need to be doing is get the government out of the oil business and let the people who know something about it run it. Open ANWAR so oil companies can find the oil we need until some politically correct politician comes up with an alternative.
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October 30th, 2009 at 8:14 pm
Canada does supply oil to America, but the cost of oil per barrel
is set by OPEC. Our prices on fuel are much higher than what you pay in the U S. Go figure.
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October 30th, 2009 at 8:40 pm
We get a VERY large amount of oil from Canada already.
Where do you get your information?
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October 30th, 2009 at 8:49 pm
Billy Its called we pissed Canada off, and there selling there
product to China,,, So much for the NAFTA agreement.
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October 30th, 2009 at 9:26 pm
Over 99% of Canadian oil exports are sent to the United States, making Canada, not Saudi Arabia, the United States’ largest supplier of oil.
The picture is complicated somewhat by the fact that Canada has a highly sophisticated energy industry and is both an importer and exporter of oil and refined products. In 2006, in addition to producing 1.2 gigabarrels, Canada imported 0.44 gigabarrels, consumed 0.8 gigabarrels itself, and exported 0.84 gigabarrels to the U.S. The excess of exports over imports was 0.4 gigabarrels.
Analysts estimate that a price of $30 to $40 per barrel is required to make oil sands production profitable. With oil prices at $100 per barrel, oil sands production has become profitable enough to trigger over $100 billion worth of new oil sands projects.
The biggest constraint on oil sands development is a serious labor and housing shortage.
So be patient, maybe the cost at the pumps will come down and the Oil Sheiks will be begging in the streets.
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http://en.wikipedia.org/wiki/Oil_reserves
October 30th, 2009 at 10:12 pm
canawho?
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October 30th, 2009 at 10:59 pm
we already get more oil from Canada than anywhere else
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October 30th, 2009 at 11:21 pm
Canada does sell a Lot of Oil to the US. That’s why Newfoundland is trying to extract more natural resources and oil to export to the US and around the world
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October 30th, 2009 at 11:48 pm
Canada already exports 85% of it`s oil production to the US.This only makes up 15% of the US market.Canada has to keep increasing production just to keep up with the demand in the US
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October 30th, 2009 at 11:59 pm
Canada is our #1 importer? What are you talking about?
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