Alberta’s oil sand bounty headed to AsiaAugust 24, 2011
Alberta’s oil sands are another massive unconventional petroleum resource that is already under development. As noted here last week, if the US will not approve the Keystone pipeline, then that oil will head elsewhere. A rival pipeline that would wind through the Canadian Rockies to a port in British Columbia has found eager commercial support from Asian interests.
We cannot say this often enough: North America could supply 90% or more of its domestic energy needs if the nations’ find the will to access the Fortune Beneath Our Feet. Hundreds of thousands of jobs will be created, and over a trillion dollars in leases, royalties and additional taxes would flow into cash strapped government treasuries. This can all be done with an eye toward environmental and climate concerns. All it takes is political imagination . . . and will.