The black truth… about Canada’s oil reserves
Some companies are devoted to extracting "syncrude" from the oil sands.
The oil sand reserve is massive - currently pegged at 175 billion barrels, based upon current extraction technologies. But few people hear of it.
The vast oil sands reserves of northern Alberta. Now that the sprawling resource has been officially added to the global energy mix, Cambridge Energy Research Associates said Canada's oil reserves alone rose to 180 billion barrels from 5.6 billion barrels and helped push the world tally up by 18 percent to 1.213 trillion."
180 billion barrels, therefore, elevates Canada to the number two slot on the petroleum pecking order, right behind Saudi Arabia's 259 billion barrels (if we are to believe the official numbers). However, the Alberta Energy and Utilities Board believes that rapidly emerging technologies will boost recoverable reserves to 315 billion barrels, thereby vaulting Canada into the number one slot.
Read more here: http://www.dailyreckoning.com/home.cfm?loc=/body_headline.cfm&qs=id=4176
