Blog: Oil Sands Output Projected to Increase Sixfold by 2030September 2, 2005
As reported by Dale Crofts through Bloomberg, Canada may increase its output from Alberta's oil sands sixfold in the next 25 years, according to a government energy adviser. Canada is the largest supplier of crude oil to the U.S.
According to the article, a senior energy adviser at the Canadian Department of Industry says Alberta may increase output from the oil sands to 6 million barrels a day in 2030 from about 1 million barrels a day at present.
The energy official went on to say that output will probably approach 1.6 million barrels a day in 2012 and 2.8 million barrels by 2016, and production costs will fall to about $7 a barrel from $11 in the next five years because of new technological developments.