The Supply & Demand for Canadian Oil Sands
- Canada is the #1 supplier of crude oil to the United States; supplying over 2.4 million bopd (1.2 million bopd comes from Canada’s oil sands)
- Canadian oil reserves are the second largest in the world; Saudi Arabia’s are the first
- Canadian estimated reserves are 178 billion barrels (97% are located in the oil sands)
- Oil sand production in Canada could create an estimated 343,000 new jobs in the United States over the next five years
- Oil sands demand for American companies’ goods and services could contribute as much as $34 billion to the US GDP in 2015 and up to $42 billion by 2025
- Over the past decade, US import of Canadian crude oil has increased from 13% to 22%
- The US Energy Information Agency anticipates that fossil fuels will still supply over 75% of the US energy consumption in 2035
- By 2035, Canada could be providing up to 40% of US crude oil imports
Source: The Oil Sands Developers Group
December 16, 2011 - 9:01 AM
Terrific work! That is the kind of info that should be shared across the internet. Shame on the search engines for no longer positioning this post upper! Come on over and visit my website . Thank you =)
Brenda Segna
December 20, 2011 - 7:45 PM
Thank you ! Be sure to let us know if there is other information we need to help you source on our site.
December 16, 2011 - 9:12 AM
This is a really great and useful piece of info. I’m happy that you just shared this. Please keep us up to date like this. Thanks for sharing.
December 20, 2011 - 7:44 PM
Thanks ! Until I began to research the Canadian oil sands more indepth I didn’t realize just how big of an oil find & extraction opportunity this is. We’ll be adding a video roll in the near future that will be featuring videos on the Canadian oil sands. Check back in about a month.