The world relies on an energy mix that includes oil, coal, natural gas, hydro, nuclear and renewables. All forms of energy production must increase to meet growing demand. Canada is uniquely positioned to provide an abundance of safe, secure energy.
166 billion barrels
Canada has 172 billion barrels of oil that can be recovered economically with today’s technology. Of Canada’s 172 billion barrels of oil, 166 billion barrels are located in the oil sands.
Source: AER 2015 and Oil and Gas Journal 2014.
New technology and innovation are critical to developing the oil sands and improving environmental performance.
The majority (80%) of the world oil reserves are owned or controlled by national governments. Only 20% of total world oil reserves are accessible for private sector investment, 50% of which are found in Canada’s oil sands.
Source: CAPP 2015