| The petroleum-drenched oil sands of
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| | to soak the bitumen. After several weeks
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| Alberta (Canada) are the greatest oil
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| | of soaking, the oil-water mixture is
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| deposits of North America, according to a
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| | pumped to the surface, where it is
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| recent international press report. At a
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| | processed like bitumen collected through
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| time, when world oil output is lagging
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| | strip mining. While the Alberta oil sands
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| behind the global demand for oil and
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| | promise a potential oil source for
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| security concerns hinder efforts to
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| | future, environmental concerns threaten
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| increase crude oil production, the
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| | to become a constraint at some stage in
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| Canadian oil sands offer a silver lining
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| | future. However, the federal and the
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| in the cloud and may attract major oil
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| | provincial governments are confident that
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| and gas exploration companies interested
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| | environmental regulations would not block
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| in making money by separating the oil
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| | the operation and further expansion of
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| sands from the earth. Rising
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| | the project, despite Canada's pledge to
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| international crude prices are reported
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| | cut emissions under the Kyoto Protocol
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| to have made the work on the oil sands
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| | global warming agreement. The prize
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| viable. It reportedly costs $12-15 a
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| | emanating from the project is so tempting
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| barrel to produce crude oil out of the
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| | - for the oil companies as well as for a
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| oil sands. Since the current
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| | government eager to earn tax revenue -
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| international prices for crude oil stand
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| | that it may not be possible for any one
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| around $60 a barrel and there seems to be
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| | to stop the project. Another concern is
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| hardly any likelihood of the price
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| | about the supply of labour. Workers may
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| falling below $40 - 50 a barrel in the
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| | be reluctant to move to the oil sands
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| foreseeable future, the oil giants may
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| | capital of the project due to prohibitive
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| have no hesitation in investing their
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| | rent and lack of facilities. If the oil
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| money into the numerous oil sands
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| | companies plan to produce three million
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| projects. The proven recoverable oil
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| | barrels a day of crude oil within the
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| reserves at the Alberta oil sands are
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| | next 10 years, they will have to hire
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| estimated at as much as 178.8 billion
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| | 40,000 workers. At the moment, wages are
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| barrels, compared to 261.5 billion
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| | reported to be increasing at an average
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| barrels of Saudi Arabia, 125.8 billion
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| | rate of eight per cent a year for the
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| barrels of Iran, 115 billion barrels of
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| | 12,000 workers working on the oil sands
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| Iraq, 101.5 billion barrels of Kuwait,
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| | project in northern Alberta. Even now the
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| 97.8 billion barrels of United Arab
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| | oil companies are reportedly hard-pressed
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| Emirates, 77.2 billion barrels of
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| | to find welders, plumbers, project
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| Venezuela and 60 billion barrels of
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| | managers and other skilled workers.
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| Russia. Thus, oil reserves of Alberta are
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| | There is no doubt that both the United
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| estimated as second largest in the world
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| | States and Canada will benefit from the
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| and they come next only to Saudi Arabia.
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| | project. The US will be able to meet part
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| The oil sands are contained in three
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| | of its requirement of imported oil from
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| major areas beneath 140,800 square
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| | its next-door neighbour, while Canada
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| kilometres of north-eastern Alberta - an
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| | will get a reliable customer at hand,
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| area larger than the state of Florida, an
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| | willing to buy increasing quantities of
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| area twice the size of New Brunswick,
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| | oil from it for an indefinite period. The
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| more than four and half times the size of
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| | US oil security will also be greatly
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| Vancouver Island, and 26 times larger
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| | boosted since the oil reserves are
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| than Prince Edward Island. However, only
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| | estimated to be the second largest in the
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| about two per cent of the initial
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| | world and oil production is, also,
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| established resource has been produced to
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| | expected to go on increasing with the
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| date. How do the energy companies
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| | passage of time. The addition of 178
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| extract oil from the oil sands reserves?
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| | million barrels to the proven recoverable
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| In the first instance, oil-soaked earth
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| | world oil reserves, together with an
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| is mined, crushed and then mixed with
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| | increase of one to two million barrels in
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| water. This mixture is sent to a
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| | the daily oil production within the next
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| separating machine, where the oil called
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| | few years will be a significant
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| bitumen settles out. The bitumen is
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| | development and it should definitely have
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| heated in a furnace. Then, the vapours
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| | a favourable impact on the global oil
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| are collected, cooled and condensed,
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| | market. For the investment community the
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| resulting in the formation of oil. After
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| | oil sands represent a very lucrative
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| some more processing, oil can be sent to
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| | opportunity. Websites like offer
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| a refinery. However, much of Alberta's
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| | insights into various Alberta Oil Sands
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| oil sands reserves lie too deep for strip
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| | Stocks. Conduct your research diligently
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| mining. These deposits require the
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| | and you should be able to find "liquid
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| injection of steam deep under the ground
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| | gold".
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