Canada holds 175 billion barrels of oil in reserves, the third highest right after Saudi Arabia and Venezuela. The Canadian oil sands account for 170 billion barrels of recoverable oil in the oil sands deposits of Northern Alberta. The figure rises to 315 billion barrels of potentially recoverable oil from the oil sands as extraction technologies improve and economic conditions remain robust. According to the International Energy Agency, demand for crude is expected to rise through 2035 fuelled mainly by increasing demand from Asia. Oil will remain an important part of the world energy landscape for years to come which … Continue Reading