Can Canadian Oil Break Out of North America?

September 20, 2002--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Canada's oil-rich province of Alberta is a responsible producer that can address many of the looming concerns about global energy security, Alberta Energy Minister Sonya Savage said at New York City for the ABT Capital Markets fall energy conference.

Alberta has been making strides to present itself as a solution to the energy crisis that's been brewing since Russian military forces invaded Ukraine in late February. As of 2021, it boasted proven oil reserves of about 161.7 billion barrels--the fourth-largest in the world. Nearly all of that, however, is in the form of oil sands, a viscous deposit that is highly polluting and difficult to extract.