Energy - The only country with more oil than Saudi Arabia

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The only country with more oil than Saudi Arabia

Wednesday, June 24, 2009
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By Mark Perry in Carpe Diem:

Canada's oil sands hold an estimated 170 billion barrels of oil that can be recovered with existing technology and as much as 1.7 trillion barrels -- more than five times the size of Saudi Arabia's reserves -- that could be produced with the use of new methods that are being developed.

As the only non-OPEC source with the capability for large production growth during the next several years, oil sands have the potential to reduce the Organization of Petroleum Exporting Countries' revenues...

Read full article...

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Topics:		Energy \| Commodities

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