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In 2006, Canada's crude oil demand was 1.7 MMB/D, of which about half was satisfied by domestic production. source: http://nrcan.gc.ca/eneene/sources/crubru/outape-eng.php In 2006, Canada's crude oil demand was 1.7 MMB/D, of which about half was satisfied by domestic production. source: http://nrcan.gc.ca/eneene/sources/crubru/outape-eng.php
Wiki User
∙ 15y ago
Wiki User
∙ 11y agoBased on Fact:
There are two main reasons Canada is not self sustaining (in oil supply). The first is simple economics, it is FAR cheaper for any country to buy petroleum from the Middle East than to tap into their own supplies. Canada and the USA have extremely high volume discount contracts with OPEC, allowing them even lower prices than most other nations. The second reason is that most of Canada's oil reserves are in oil sands, this actually leads back to the first reason because oil sands make the operational costs of drilling and pumping oil even more expensive.
Ignorant Opinion: Why isn't Canada self sustaining? Because the US will not allow it. They force other nations to bow to their demands when it comes to Natural Resources that they want to control by use of Economic Hit Men, WAR, and many other disgraceful actions. The people of this world have had their eyes closed for far to long. It is time to wake up and see how corrupt the monetary system really is. Who created the monetary system? Rich power hungry men that cared only about their wealth and power and how to gain more. The largest and most powerful corporations control the world economy and make the decisions, NOT the government. Until this changes all nations will be FORCED to bow to the demands of the US. If Canada cut ties with the US and kept its natural resources for itself our Prime Minister would be bribed, threatened, or assassinated until the next person in line agreed to do as they were told. If no one could be persuaded to bow to terms we all know who likes to show off their military size and power of persuasion...
Wiki User
∙ 9y agoCanada's oil reserves are estimated to be roughly at 179 billion barrels. This means Canada has the second largest oil reserves in the world, only behind Saudi Arabia.
Wiki User
∙ 15y agoYES.
the Oil Sands in Northern Alberta and Saskatchewan are the single biggest reserve in the world.
Wiki User
∙ 12y agoyes oil is one of Canada's natural resources... Alberta in where most of Canada's oil is. There is an oil field in Alberta.
Wiki User
∙ 15y agoYes, Canada has oil
Wiki User
∙ 11y agoUsa
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What is Canada rich in?
Oil and Snow.
How much oil does canada have?
Canada has 179 billion barrels of oil in reserve. The US has only 26.5 billion barrels of oil in reserve.
Which provinces have large oil deposits lie below the land in Canada?
Alberta is the province with the most oil deposits in Canada
Why are oil sands important to Canada?
Oil sands are important to Canada, and the United States, because of how much oil they produce, and how much oil we consume with our machines, or how ever else. But its also important because, well as my opinion as a Canadian, it is Dirty Oil.
Who does Canada export oil to?
Canada and the United States share the longest unguarded border in the world. Canada is rich in crude oil and other petroleum products. Most of these are exported to the United States.
What is the Location of oil deposits in Canada?
Most of Canada's oil deposits are in northern Alberta
Is oil a resource in Canada?
Yes, oil is a resource in Canada. There are many other resources also.
How is western Canada different from central Canada?
Oil
Does Canada supply the most oil to US?
I think crude oil and oil is the same thing and if so yes Canada does supply the most oil to the US
What is the largest oil producing province in Canada?
Alberta has the most oil reserves and produces the most in Canada
What is Canada's oil from?
Canada gains oil largely through the prairies, meaning the provinces of Saskatchewan, Alberta, and Manitoba.
When was First Oil Well in Western Canada created?
First Oil Well in Western Canada was created in 1965.
What resources and activities drive Canada's economy?
Oil and gas drive the economy in Canada. They are currently having oil booms in the southern northern part of Canada.
Is Canada's oil import bad?
No and Canada is currently leading in Oil production at an average of 1,933 barrels per day.
How much oil does the US purchase from Canada?
The US is currently importing about 1,900,000 barrels of oil per day from Canada.
Who has the longest oil pipeline?
Canada
What is the natural resources of Canada?
oil
