Wednesday, July 05, 2006

Canadian Oil Sands

USA Today.

With oil over $70 a barrel, Canada is planning to go full steam ahead on developing its oil sand resources, the biggest hurdle being a shortage of workers to develop the area. They estimate a need for up to 30,000 people willing to work and live in the Great White North to get up to speed. Candian oil firms expect to quadruple their production in the next decade and a half, to 4 million barrels a year, and will probably have to look for their workers in the US in order to get there. It is estimated there may be as much as 175 billion barrels of oil in these Canadian sands, reserves second only to Saudi Arabia.

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