Quote:
Originally Posted by Baraka_Guru
Why isn't the U.S. talking up investing more in the tar sands in Alberta? I seem to hear more about China jumping on the area than I do Americans. Mind you, American companies have been there for a while now. But what about future expansion/development/technology? Is there a push for that in the U.S.?
You do realize the tar sands in Alberta hold the second-largest oil reserve in the world, right?
If it weren't for all that damn sand.....
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I think they'll probably stay closer to home - oil shale in western Colorado. An oil company (can't remember which) spent $1B determining the cost/earnings potential there back in the 80s. At the time, they thought it wasn't worth it. But then again, gas was under $1 per gallon back then. I'd like to say that technology in the oil business has improved since then, too - but BP taught us last summer it hasn't. Look for Grand Junction to become the new Houston sometime in the future, though.
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