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CHIMO Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-19-10 07:12 PM
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Oil sands on track to be biggest source of U.S. oil imports
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Source: Globe and Mail Update

Canadas oil sands will become the largest single source of imported oil to the United States this year, and could supply more than a third of Americas foreign oil by 2030, under an aggressive growth scenario that would have to overcome labour shortages and environmental concerns, an influential U.S. think tank said Wednesday.

The growing volume of Canadian oil sands imports emphasizes the importance they have attained as a supply source for the United States, Daniel Yergin, Cambridge, Mass.-based chairman of energy research firm IHS CERA, said in releasing a new report on the controversial Alberta oil projects.

Canada is already the largest source of imports for the U.S. market. But as conventional Canadian production declines and oil sands volumes grow, those non-conventional supplies are becoming increasingly critical.

In the third quarter of 2009, oil sands imports to the United States hit one million barrels a day for the first time, of total Canadian exports of 1.9 million. This year, IHS CERA expects oil sands producers to average 1.08 million barrels a day in sales to the U.S., eclipsing imports from both Mexico and Saudi Arabia, which will be declining or flat.

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