Did You Know: Canada a Major Player in U.S. Energy Activities
Written by Paul Kirvan on December 11, 2008 in Business Continuity, Crisis Management and Crisis Communication, Disaster Recovery.
Did you know that:
- The United States purchases more oil, natural gas, uranium and electricity from Canada than any other country.
- Canada’s proven oil reserves total 179 billion barrels, of which 173 billion barrels are in oil sands reserves, making Canada second only to Saudi Arabia in global oil reserves.
- 99% of Canada’s crude oil exports are to U.S. markets.
- Energy flows in both directions between the United States and Canada.
- The Canadian oil sands are critically important to U.S. energy security—and to North American security.
- Current oil sands production is 1.2 million barrels per day, and is projected by the Canadian Association of Petroleum Producers to reach 2 million barrels per day in 2012, 3 million barrels per day in 2017, and 3.5 million barrels per day in 2020.
- One of the biggest challenges to increasing production is making sure that this vast resource is developed in an economically efficient and environmentally responsible way. The Government of Canada, the Alberta Government, and the oil sands industry have made it clear that they are committed to accomplishing this goal and addressing the environmental challenges.
- Both the Canadian federal government and the government of Alberta have greenhouse gas reduction initiatives, including Alberta’s recently announced $2 billion allocation for carbon capture and storage. Companies have made significant strides over the last decade to bring down the costs and greenhouse gas emissions associated with oil sands production, and are continuing their efforts.
