Alberta’s oilsands are the world’s largest known petrocarbon source and estimates of 176 billion barrels are recoverable at current prices. The oilsands are located north of Edmonton approximately 4 hours. Annual revenues from oilsands in 2004 was US $12.5 billion and this is expected to increase to US $43 billion by 2014. Annual royalties and taxes from oilsands projects paid to Alberta were $873 million and this is expected to increase to $3 billion in 2011. The number of new jobs expected to be created as a result of the oilsands projects by 2008 is 240,000.

Below are some of the amazing facts about the Alberta Oilsands:

• Area of oilsands deposits: six million hectares
• Current estimated reserves of oil from oil sands: 178 billion barrels
• Potential reserves with improved extraction technology: 300 billion barrels
• Barrels of oil produced daily
  o In 2004 – One million
  o In 2014 – Three million
• Annual revenues from oil sands:
  o In 2004 – US $12.5 billion
  o In 2014 – US $43 billion (est.)
• Annual royalties and taxes from oilsands projects paid to Alberta
  o In 2004 - $873 million
  o In 2011 - $3 billion
• Number of jobs created by oilsands
  o In 2004 – 140,000
  o In 2008 – 240,000

Source: Maclean’s – July 13, 2005