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Canada's Western Energy Boom: Neighbors cast envious glances at those sheiks of Calgary.
- Source :
- TIME Magazine; 12/10/1979, Vol. 114 Issue 24, p84-85, 2p
- Publication Year :
- 1979
-
Abstract
- The article focuses on the oil and gas reserves in Alberta being developed by the local government. According to the Canadian constitution, the provincial government has the right for the mineral resources; thus, it collects an average of 43% for oil while 33% for gas in production incomes of local energy firms. It mentions that oil reserves including tar sands and bitumen oil in Alberta are estimated to vary from 5 billion to 16 billion barrels. It notes that Suncor Inc. and Syncrude Canada Ltd. are producing 150,000 barrels per day with tar sands; and the group of Royal Dutch Shell PLC successfully gained the 5 billion dollar-project of oil production from heavy crude. However, it discloses that Canada plans to increase its overall oil sales for U.S.
- Subjects :
- PETROLEUM industry
PETROLEUM reserves
OIL sands
BITUMEN
ECONOMIC history
Subjects
Details
- Language :
- English
- ISSN :
- 0040781X
- Volume :
- 114
- Issue :
- 24
- Database :
- Complementary Index
- Journal :
- TIME Magazine
- Publication Type :
- Periodical
- Accession number :
- 53525899