The third largest source of oil in the world is the Canadian oil sands and the United States already imports more of it from there than from anywhere else. With oil prices on the rise, the controversial oil sands are likely to become even more economically viable, despite experts’ warnings about environmental risks [and the political and environmental gamesmanship to block the Keystone pipeline project from there to refining facilities in the U.S.]. Below are 11 incredible facts about the oil sands. Words: 408
So says Dina Spector (www.businessinsider.com) in edited excerpts from the original article*.
Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Here are the facts, with pictures and a chart:
- Of Canada’s 175 billion barrels of oil that can be recovered, 170 billion barrels come from the oil sands in the Alberta region. [See photo here.]
- Canada has about 9 times as much proven oil reserves as the United States (around 22 billion barrels). [See photo here.]
- The country has enough oil to fuel its own oil demand for about 266 years (if they stopped exporting their oil). [See photo here.]
- New oil sands development is expected to generate $84 billion per year — enough to feed more than 90% of Canadian households for one year. [See photo here.]
- Canada supplies 25% of U.S. crude oil imports, more than double that of Saudi Arabia. [See chart here.]
- The oil sands cover 54,826 square miles, an area bigger than England and almost the size of Florida. [See photo here.]
- It takes about two tons of mined oil sands to produce one barrel of crude oil. One operating mine in Alberta has excavated more soil than the Great Pyramid of Cheops, the Great Wall of China, the Suez Canal and the world’s 10 biggest dams combined. [See photo here.]
- The total size of the lakes made from oil extraction is bigger than Vancouver. [See photo here.]
- Producing a barrel of tar sand oil emits three times more greenhouse gases than producing a barrel of conventional oil. [See photo here.]
- Oil sands production uses enough natural gas in a day to heat 3 million homes in Canada. [See photo here.]
- The world’s oil sands production went up 225% in the last decade. [See photo here.]
Editor’s Note: The above article may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
Automatic Delivery Available! If you enjoy this site and would like every article sent to you automatically then go HERE and sign up to receive FREE Your Daily Intelligence Report. We provide an easy “unsubscribe” feature should you decide to opt out at any time.
Spread the word. munKNEE should be in everybody’s inbox and MONEY in everybody’s wallet!
Coal, hydroelectric and oil are increasingly in high demand to meet the world’s growing appetite for power. In fact, global energy consumption grew 5.6 percent in 2010, the highest rate since 1973. Discover 10 other fascinating facts about worldwide consumption in this informative slide show.
The oil sands in northern Alberta are crucially important to the Canadian economy. People from all over the country are traveling there to find work. The news is filled with controversy over proposed pipelines (the Keystone XL and the Northern Gateway) to carry the oil to export markets. Here are 10 things everyone should know about the oil sands. Words: 878
When you think of Canada, which qualities come to mind: the world’s peacekeeper, the friendly nation, a liberal counterweight to the harsher pieties of its southern neighbour, decent, civilised, fair, well-governed? Think again. This country’s government is now behaving with all the sophistication of a chimpanzee’s tea party. Words: 1377
The carbon footprint left by Canada’s oil sands has been a target of criticism for years with many environmentalists suggesting that the extraction and processing of bitumen from Alberta’s northern oil sands is “two to three times worse” for the environment than any other supply of oil on the planet. Is that legitimate criticism? Words: 692
Some people arbitrarily speak about oil as if it is a single, indistinguishably homogenous substance without any unique differentiation, but this is actually not the case at all! In fact, there are many different kinds of oil. Words: 1007