Sunday, September 25, 2005

Alberta has oil reserves second only to Saudi Arabia :: Fortune

If you want to form an opinion on where oil prices are headed, be sure to factor this in: while it's expensive to get oil from tar sands ($20/barrel) it's still well below the current price of oil. And Alberta has got lots.

Read it all.

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Anonymous Anonymous said...

Well, had the OPEC wanted to edge out competition, they could drive the price of oil below 20 dollars with excess output.

10:34 AM  
Blogger John B. Chilton said...

Bring it on. That only reinforces my implied conclusion: in 10 years time the price of crude will still be less than $100 even if the Indian and Chinese economies continue their rapid growth.

10:38 AM  

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