Tuesday, March 6, 2007

Canada gets in bed with US Oil Interests

Canada gets in bed with US Oil Interests

Canada will stay top U.S. oil supplier for 20 years
Ashok Dutta, CanWest News Service; Calgary Herald
Published: Tuesday, March 06, 2007

CALGARY -Canada - which in 2005 replaced Saudi Arabia as the single-largest supplier of energy to the U.S. - will continue that position over at least the next two decades, thanks to the multi-billion dollar oilsands developments in Alberta.

"The projects in Fort McMurray and Athabasca will ensure that Canada remains in the top spot until 2030," Guy Caruso, administrator of the U.S. Energy Information Administration, said Monday on the sidelines of an industry conference in Calgary.

According to EIA estimates, Canadian exports to the U.S. will reach 2.6 million barrels per day by 2030, compared with current levels of just over one million bpd.

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