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  • We'd Be Crazy To Turn Backs On Oil Sands

    08/27/2011 4:17:28 AM PDT · by Kaslin · 29 replies
    IBD Editorials ^ | August 26, 2011 | ROBERT J. SAMUELSON
    When it comes to energy, America is lucky to be next to Canada, whose proven oil reserves are estimated by Oil and Gas Journal at 175 billion barrels. This ranks just behind Saudi Arabia (260 billion) and Venezuela (211 billion) and ahead of Iran (137 billion) and Iraq (115 billion). True, about 97% of Canada's reserves consist of Alberta's controversial oil sands, but new technologies and high oil prices have made them economically viable. Expanded production can provide the U.S. market with a source of secure oil for decades. We would be crazy to turn our back on this. In...