Did you know?
While oil demand grows higher by the day, supplies are in a constant state of flux…
The Middle East’s tinder is constantly catching fire, and the other major crude oil players are either unfriendly (like Venezuela and Nigeria) or simply running out of oil (like Mexico and the North Sea region).
But Alberta, Canada’s oil sands, once too costly to process at a profit, have suddenly become a veritable black gold mine. Now…
With the razor-thin gap between supply and demand – and the volatility of producing nations not priced in – oil’s price is currently undervalued at $90+ a barrel.
The cost of refining crude oil from tar sands has dropped from $29.63 a barrel to $13.21 – and continues to fall as oil production ramps up.
Canada’s sands contain up to 3.4 trillion barrels of oil – more than the reserves of every OPEC country combined.
Woohoo! Great to be a Canadian especially an Albertan!!
Cheers!
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Two reasons anyone does anything in life...Inspiration or Despiration.
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