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Policy guru says sustainable development of the Oil Sands will provide half US energy needs for 100 years

January 22, 2009

Policy guru says sustainable development of the Oil Sands will provide half US energy needs for 100 years
Toronto, January 22, 2009 - Satya Das, strategic advisor to oil companies, government, and environment groups, says Alberta has 173 billion barrels of proven oil recoverable with today′s technology.
"That′s 7 times greater than all the proven reserves of the United States (including Alaska), offshore U.S., Mexico, and offshore Mexico combined," says Das. "The total reserve of friendly oil is 315 billion barrels, greater than the reserves of Saudi Arabia and Iran combined.
• Listen to Satya Das' interview on National Public Radio
In 2006, Alberta exported 1.35 million barrels per day of crude oil to the U.S., supplying 13 per cent of crude oil imports and accounting for ¾ of Canada′s oil exports to the U.S.
Provided development occurs within a framework of environmental stewardship, Das says Alberta can provide half of the United States current daily energy imports (five million barrels) for 100 years
In 2007, Alberta was 1st to legislate greenhouse gas reductions on large industrial facilities such as those found in the oil sands. In the first year, companies made 2.6 million tonnes of actual reductions, the equivalent to taking 550,000 cars off the road.
"Alberta is investing $4 billion in addressing climate change and the sustainable development of the oil sands. Combined with American money and ingenuity we can look forward to carbon-reduced North American energy security for years to come," says Das. A $2-billion fund will advance carbon capture and storage (CCS) projects, equivalent to taking one million cars per year off the road. The Government of Alberta and private industry have each invested more than $1 billion in oil sands research
Combined efforts and investments of both the public and private sectors will continue to improve the efficiency and environmental footprint of oil sands recovery and upgrading.
For more information contact Don Fenton
1 416 434 3681

For more information contact:
Don Fenton
Phone: 416 434 3681

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