Oil reserves in Canada were estimated at 179 billion barrels (28×109 m3) in 2007. This figure includes the oil sands reserves that are estimated by government regulators to be economically producible at current prices using current technology. According to this figure, Canada's reserves are third only to Venezuela and Saudi Arabia. Over 95% of these reserves are in the oil sands deposits in the province of Alberta. Alberta contains nearly all of Canada's oil sands and much of its conventional oil reserves. The balance is concentrated in several other provinces and territories. Saskatchewan and offshore areas of Newfoundland in particular have substantial oil production and reserves. Alberta has 39% of Canada's remaining conventional oil reserves, offshore Newfoundland 28% and Saskatchewan 27%, but if oil sands are included, Alberta's share is over 98%.
Read more about Oil Reserves In Canada: Status, See Also, External Links
Famous quotes containing the words oil, reserves and/or canada:
“His education lay like a film of white oil on the black lake of his barbarian consciousness. For this reason, the things he said were hardly interesting at all. Only what he was.”
—D.H. (David Herbert)
“...I want to see a film, they send the Israeli army reserves to escort me! What kind of life is this?”
—Golda Meir (1898–1978)
“In Canada an ordinary New England house would be mistaken for the château, and while every village here contains at least several gentlemen or “squires,” there is but one to a seigniory.”
—Henry David Thoreau (1817–1862)