Canada: Oil Sands Production Could Go Up To 6.3 Million Barrels A Day

A study by the IHS Cambridge Energy Research Associates released Monday provided another dimension to the brewing controversy involving the Alberta oil sands project, which green groups say will damage the environment further.

The report said output from the oil sands could go up to 6.3 million barrels a day by 2035. It would be five times the current production levels of 1.3 million barrels per day. Given this volume Canada will be the world’s second largest holder of recoverable oil reserves, next to Saudi Arabia.
Daniel Yergin, IHS CERA and chairman of the study titled “Growth in the Canadian Oil Sands: Finding A New Balance”, said in a statement, “The development of Canadian oil sands encapsulates the complexities that the world faces on energy, environment and security… The length and depth of the current economic recession, the pace of technological innovation as well as government regulation, particularly in addressing concerns about climate change will all shape the growth of oil sands.”

AHN