The Cost of Foreign OilWhy Not Use Alberta’s Tar Sands Oil?
The Cost of Foreign Oil
Why Not Use Alberta’s Tar Sands Oil?
While Saudi Arabia has 261.9 billion barrels of proven oil reserves (including 2.5 billion barrels in the Saudi-Kuwaiti Divided, aka "Neutral" Zone), around one-fourth of proven, and may have up to 1 trillion barrels left in its reserves, and Iraq has 360 billion barrels of proven reserves, 12% of the world total, the Province of Alberta, Canada has an estimated 1.7 trillion barrels of oil in the Tar Sands. Why would we rather buy foreign oil from the Middle East, when we have shipping costs, oil spill costs, the enormous costs of the wars we fight to maintain our presence there, when we can just pipe extracted oil directly across the Canadian border?
According to recent studies, the cost of extraction from the tar sands is at $10 per barrel. Compare that to the fact that oil has jumped from $50 per barrel to $62.00 per barrel in the past few months alone.
Would we rather make the Middle East so wealthy that they would use their wealth to propagate their extreme religious views against us in the form of terrorism?
If you want foreign oil to come from Canada and not the Middle East, write your congressman.