Canadian Oil No Good for U.S.?
Tuesday, March 11, 2008 9:25 AM
By: Newsmax.com Article Font Size
It might come as a surprise that the country with the largest oil reserves is not Saudi Arabia, Iran or Venezuela, but Canada.
Yet America’s No. 1 trading partner is concerned that the U.S. doesn’t want its oil.
Canada has an estimated 1.6 trillion barrels of oil on its territory. Saudi Arabia has an estimated 270 billion barrels. But much of Canada’s oil is locked in tough-to-excavate tar sands in the province of Alberta.