ECON 2K03 Lecture Notes - Proven Reserves
Document Summary
Where should alberta oil find its market--- solution was to build pipeline capacity to send oil in america (this would be access oil) Nep positive in ontario, negative in alberta federal control over the rent of revenue. Natural gas was supposed to be allocated differently. Much of alberta"s oil is now flowing into the united states. We are exporting more and more as production is greater than consumption. Gas consumption was flat and production was increasing rapidly. Gas production in canada is declining as fields in alberta are declining. Canada pursues a high export strategy we have become major exporters of oil and gas to the us. 2005 proven conventional oil reserves 4 years proven conventional and oil sands reserves 78 years proven gas reserves 9 years. Canada is pretty cold country, if we run out of oil, we"d rather live in florida than edmonton. It is questionable how much oil we actually have.