do americans know about all this oil?
with the talk of Alaskan drilling/ offshore drilling for oil.
Do Americans know that the oilsands in Alberta, Canada have as much oil as Saudi Arabia, plus we just found more oilsand in the neighbouring province/state Saskatchewan?
I know Americans would rather rely on their own source for energy but considering we have a surplus, wouldnt it make sense to import it off of us and keep Alaska as pristine as possible?
- knh959Lv 71 decade agoFavorite Answer
Known oil reserves in Saudi Arabia are marginally greater than known oil reserves in Canada. Canada though is discovering new reserves all the time whereas the Saudis pretty much know what their capacity is. It's currently a toss-up between Canada and Saudi Arabia as to which country exports more oil to the United States. One month the Saudis may export slightly more and the next month Canada may export slightly more. The major difference between oil produced in Canada and oil from Saudi Arabia is the process used to get the stuff out of the ground. The Saudis basically have to stick a hollow tube in the ground and oil gushes out of it. the oil in Canada is mixed with a thick tar and the process to separate the oil from tar is time consuming and expensive. (If memory serves, the cost to get oil from the ground and to a refinery in Saudi Arabia is between $6 and $10 USD per barrel. In Canada it's $35 USD per barrel or more. When oil prices were up around $147 per barrel last summer, the Tar sands was going full bore to produce as much as was humanly possible. Now that prices have fallen by half, the tar sands has slowed production. Reasons for the drop in oil prices are complex and confusing but the bottom line is that if the profits aren't there the Tar Sands production will be curtailed. If the Americans can produce oil in Alaska efficiently, economically and most importantly in an environmentally safe manner they should do so.
- judo702Lv 51 decade ago
It's a reality OPEC is a oil cartel. They could shut down countries if they wanted to. The reality is we need them a lot more than they need us. We don't have a surplus if we were cut off of oil we could go one month that's it.
We can't drill our way out and all the other sustainable energy sources can't provide enough energy. Unless we want to drive nuclear powered cars we need to do something now.
- Anonymous1 decade ago
canada has proven reserves of 200 gigabarrels
US has proven reserves of 30 gigabarrels
Saudi has proven reserves of 300 gigabarrels
the difference is that saudi oil is light sweet crude, canadian oil is tar sand oil, and the US supply is mixed quality.
light sweet crude is the most cost effective oil to produce gasoline from. That's why we import so much from saudi arabia.
so long as the US needs gasoline, we will be importing from saudi arabia
- Anonymous1 decade ago
Yes but Comrade Obama unfortunately DOES NOT know about it.