Canada is the largest supplier of crude oil and refined products in the United States, providing nearly 20% of total U.S. imports and exports of oil products in the U.S. that is consumed. In 2006, bitumen production averaged 1.25 million barrels per day (200,000 m³ / d) 81 through the oil sands projects, representing 47% of the total Canadian oil production. This proportion is expected to grow in the coming decades as conventional bitumen, while production increased oil production in decline.

Most of the sands of Canada are located in three major deposits in northern Alberta. These are Wabiskaw-Athabasca oil sands of northern Alberta, northeast of the Cold Lake deposits of east northeastern Alberta, and deposits of northwestern Alberta Peace River. Among them they cover about 140,000 square kilometers (54,000 square kilometers) - an area larger than England - and keep the reserves of 1.75 trillion barrels (280 × 10 ^ 9 m 3) instead of asphalt. About this ten percent, or 173 billion barrels (27.5 × 10 ^ 9 m3), is estimated by the government of Alberta to be present that could be put in current prices using the technology, which amounts to 97% of reserves oil in Canada and three-quarters of total oil reserves in North America. [1] In addition to the Alberta deposits, there are large deposits of oil sands in Melville Island in the Canadian Arctic islands is not likely that commercial production in the foreseeable future.

Alberta deposits contain at least 85% of total world reserves of natural bitumen, but it is concentrated enough to be the only deposits that are economically, that can be placed on converting the current price of oil. The largest bitumen deposit, containing about 80% of the total, and only suitable for surface mining is the Athabasca Oil Sands along the Athabasca River. The mineable area (as defined by the Government of Alberta), includes 37 municipalities, covering about 3400 square kilometers (1300 square kilometers) near Fort McMurray. Cold Lake deposits are less important because some oil is fluid enough to be released by conventional methods. All three Alberta areas are suitable for in-situ methods such as the production of cyclic steam stimulation (CSS) and gravity drainage assisted steam (sagde).

Alberta oil sands have been in commercial production since the Great Canadian Oil Sands (now Suncor) mine began operation in 1967. A second mine, operated by the Syncrude consortium, began operation in 1978 and is the biggest mine of any kind in the world. The third mine in the Athabasca Oil Sands, the Sands Albin consortium of Shell Canada, Chevron Corporation and Western Oil Sands Inc. began operation in 2003. Petro Canada is also developing its $ 33 billion Fort Hills project, in collaboration with UTS Energy Corporation and Teck Cominco. If approved in 2008, in Fort Hills Oilsands upgraders are slated to begin production in 2012.

With the development of new in-situ production techniques such as steam assisted gravity drainage, and increase in oil prices since 2003, there were several dozen companies planning nearly 100 oil sands projects in Canada, with a total of about $ 100 billion in capital investment. In 2007 crude oil prices significantly above the current average production cost of $ 28 per barrel of bitumen, all these projects can be profitable. However, bitumen production costs are rising rapidly, with increases in production costs of 55% since 2005 due to lack of personnel and materials.

In the first half of 2008, prices for most goods with the cost of the dizzying ascent. Traders and investors from all over the world offer the prices of wheat, corn, aluminum, platinum and other record levels.

Petroleum was not different. 1999-in a barrel of oil would be $ 15 and you will receive a $ 25th March 2008, ran the same barrel would be a cool $ 145!

The reasons for the boom in oil prices reflected the fear that the rapidly developing countries (especially China and India) can deplete non-renewable resources faster than hitting the world's "Peak Oil".

Peak oil is the belief that easy access to the world's largest oil fields will be harder and heavier than the oil locked in the upper level of the earth's crust is drained. Many geologists feel that the world has passed the peak of production, and that all future oil production in decline
as long as oil exploration is no longer profitable.

However, there is a different point of view. Although the peak oil debate is a subject of conjecture, and only some people believe that the planet running out of oil altogether. Most petroleum is excluded from the details of the crust that is either too deep to obtain, process, or pure profit.

One solution that is being developed for oil sands processing. Large deposits of oil sands bitumen and hydrocarbons that exists in shale rock. It is a tar sands because the tar-like appearance of this oily substance. The main problem in the oil sands, it is the huge amount of water and energy to process the tar oil. After Effects is also in the processing of tar sand is only a nightmare for the environment. The oil sands waste water processing facilities depend on the toxic species of freshwater animals to thrive.

The United States in addition to a cleaner and cheaper processing technology is of vital importance. This is because it is the closest ally of the United States and Canada also recorded a huge amount of potential oil shale formations in the Rocky Mountains. If you were in such a way that is actually in the process would be lost if tar-America of the need to depend on the iffy foreign "allies" in the world by far, of which its citizens do not like America.