Any investor or prospective investor googling “Alberta”--Canada’s key oil-producing province--will likely give up before clicking any further, at this point. The results will be a string of bleaker-than-bleak forecasts for Canada’s oil heartland. Job losses, office vacancies, and oil companies leaving the oil patch all indicate that Canada’s most prolific oil province has fallen on particularly hard times.
But let’s dial down the headline drama and look at Alberta from a sober perspective. It’s struggling, but the doomsday scenarists have potentially taken things too far.
Canada has enough oil to reserves to meet total North American needs for decades ( 3rd greatest on the planet)
It's a good position to be in, but the oil must bring world market prices, not manipulated fractional prices. Trans Mountain pipeline will insure that the world price is received.
The plan to build a major pipeline from Canada to Texas in order to feed Texan refineries ( the Keystone XL) tells us all we need to know about the relative oil reserve situation.
Texas is America's greatest oil asset and it will soon be getting a long term major transfusion from Canada.