Alberta: the Saudi Arabia of the North?
Western Canada is very rich in heavy oils. These thick oils that have the consistency of molasses or even peanut butter are rather tricky to produce in an environmentally friendly manner. However, with our strong dependency in the next several decades on petroleum, and the decline of easy to produce oil reserves, it is inevitable that the production of these oils will increase. The prospect is not that rosy, given the current state of technology. However, experts in the petroleum industry are adamant that green and sustainable ways for their production will be found.
Listen to Ian Gates from the University of Calgary, who explains why Alberta faces potential wealth, but also many challenges.