Canadian oil sands: Opportunities, technologies and challenges
Energy resources found at the Arctic Circle have potential
Increasing global oil demand and
sustained higher commodity prices have raised questions about
the future of energy supplies in North America. Canada is the
seventh largest producer of crude oilenough oil to meet
both its domestic demand and supply export markets. Canada's
conventional oil production has been declining for over a
decade. However, Canada's total oil production will grow
significantly in coming years and is estimated to become the
world's fifth largest oil producer (Fig. 1). This significant
growth will be achieved through oil sands. Canada has
substantial reserves of oil sands, which are estimated to
produce 175 billion bbl (B bbl) with available technology.
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