There's an oil boom going on right now. Not in Saudi Arabia or Kuwait or any of those places, but...in Alberta, Canada. The oilmen up there are...digging up dirt -- dirt that is saturated with oil. They're called oil sands, and if you've never heard of them then you're in for a big surprise because the reserves are so vast in the province of Alberta that they will help solve America's energy needs for the next century. Within a few years, the oil sands are likely to become more important to the United States than all the oil that comes to us from Saudi Arabia. There are 175 billion barrels of proven oil reserves here. That's second to Saudi Arabia's 260 billion but it's only what companies can get with today's technology. The estimate of how many more barrels of oil are buried deeper underground is staggering. We know there's much, much more there. The total estimates could be two trillion or even higher," says Clive Mather, Shell's Canada chief. "This is a very, very big resource." Very big? That's eight times the amount of reserves in Saudi Arabia.
Latest
Latest News
Each news summary is created according to strict standards. Here's how we do it.
Each summary is created using a consistent editorial procedure. The target length is approximately 16 lines of 11-point Arial text in a 650-pixel-wide column. Up to 25% of a summary may be set in bold to emphasize the most important ideas. Summaries are composed of verbatim excerpts presented in the same sequence as they appear in the original news source, with very minor editorial additions. Where material has been omitted between excerpts, the omission is indicated with ellipses (...). Any words added by an editor for clarity or context appear in [brackets]. Our original news editor was Fred Burks. Tod Fletcher edited most summaries from 2007 through 2014, and Mark Bailey has served as news editor since 2014.