ADMS 1010 Week 8 Oil Fall 2011

Superior into the us alberta exports to us marikmes

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Unformatted text preview: holes in 1947 •  EsKmated at 200 million barrels •  Redwater (north east of Edmonton) in 1948 – esKmated 750 million •  Pembina – over one billion barrels of oil by convenKonal recovery •  Imperial Oil is 40 percent of Canadian producKon from 1947 to 1956 •  Alberta is 2nd – behind Texas in world oil and gas development and acKvity •  Canada is 6th in the world of oil producing naKons •  By 1930’s there are already concerns about reserves – Alberta enacts legislaKon to control oil and gas reserves (Oil companies grow to like this – moderates supply) Fall 2011 Jim Love ADMS 1010 11 Canada •  ConsumpKon grows – doubles from 1946 to 1956 •  Canada’s oil supply is growing – 60% of domesKc needs •  Foreign investment in refining, distribuKon and infrastructure – including the largest oil and gas pipeline system in the world •  Pipelines run north south (much cheaper) – unlike the railway •  Even the Ontario pipeline (Inter- Provincial Pipeline) runs south of Superior into the US •  Alberta exports to US •  MariKmes and Quebec import oil – it’s cheaper Fall 2011 Jim Love ADMS 1010 12 Investment •  Massive capital investment needed...
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