Canada's ENERGY Boom

Higher CRUDE OIL prices are great for CANADA and its booming ENERGY economy...this MSNBC.com article is a great example of why I think so highly of Canada's future economic prospects (pssst - they have oil...LOTS of it...and their really not all that 'foreign'):

http://www.msnbc.msn.com/id/23958032/

Some Interesting Takeaways:
*Canada’s “oil sands” reserves have helped make it the Leading international crude oil supplier to the United States (not Saudia Arabia...not Venezuela...not Iraq...not Iran, etc.)

*According to the article, "There's more oil up here in the Canadian sub-Arctic than in all of Saudi Arabia. These tar sands stretch on for about 50,000 square miles." (Gotta say I'm a little skeptical about this...but I do know from one of my earlier REFerence posts that Canada is AT THE VERY LEAST #2 worldwide in Crude Oil Reserves.

*The article brings to light a potential downer about oil sands + oil shale exploration...extracting oil from oil sands and oil shale releases THREE times as much CARBON DIOXIDE as traditional oil drilling. "

Data Courtesy: MSNBC.com, snagged on 4/08/08.