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Canada Has Plenty of Oil, but Does the U.S. Want It?
News Articles Featured | Wall Street Journal | July 08, 2011
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EDMONTON, Alberta—In a 21st-century oil boom, this sparsely populated Canadian province has become one of the world’s newest petroleum powerhouses. Foreign investors are piling in, and Alberta plans to double production over the next decade.
The problem is that the U.S.—the biggest consumer of Alberta petroleum—may not want the additional oil.
Most of Alberta’s 1.5 million barrels of daily exports are extracted from oil sands, or bitumen. Turning this tar-like substance into oil is an energy-intensive process that generates lots of carbon dioxide, a gas suspected to contribute to global warming. Almost all the oil produced ends up in the …
Tagged with: alberta, oil demand, wall street journal, united states
