The Canadian Oil Sands may be Western Canada’s new “Black Gold”. The activity is much like an “oil boom” of old. There are 175 billion barrels of proven oil reserves there. 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.
The oil sands represent the primary feed stock for petroleum production throughout the entire Albertan Oil Region. Today’s oil pricing levels have made the extraction of oil from the tar sands much more attractive than in the past. The reserves are so vast in the province of Alberta, that they will help solve America’s energy needs for the next century.
Estimates of 175 billion barrels, is second only to Saudi Arabia’s 260 billion, but that calculation is limited to what companies can extract with today’s technology. The estimate of how many more barrels of oil are buried deeper underground is staggering.
Canada is now the new frontier in non-OPEC oil and gas developments. Canada’s oil sands could help meet the global energy demand over the next 100 years. This area within Alberta represents the second largest known oil reserves outside of Saudi Arabia.
Experts predict that Canada may well soon become the Single largest source of imported Foreign Oil into the United States. The facts are clear that the oil sands deposits in Alberta Canada will definitely be a significant factor in the Oil & Gas Sector, for the years ahead.
Global Resource Corp. has a patent pending process that allows for removal of oil and alternative petroleum products at very low cost from various resources, including shale deposits, tar sands, waste oil streams and bituminous coal with significantly greater yields and lower costs than are available utilizing existing known technologies.
The process uses specific frequencies of microwave radiation to extract oils and alternative petroleum products from secondary raw materials, and is expected to dramatically reduce the cost for oil and gas recovery from a variety of unconventional hydrocarbon resources.
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