Peak oil or Peak Canada?
Yogi Berra famously said “It’s hard to make predictions – especially about the future”. I like to think that Steven Harper was thinking this exact thought if he read the Globe and Mail’s double page spread on how shale oil promises to make the USA the world’s biggest producer of crude within a decade.
What price Canada’s status as an energy superpower now, Mr. Harper?
The Bakken Shale Zone, an area of Devonian and Lower Carboniferous rock that straddles Montana, North Dakota, Saskatchewan and Manitoba (Figure 1), may contain upwards of 3.65 billion barrels of oil. Production in the region is increasing exponentially, up to 750,000 barrels a day last year. This “glut” of light, easily transported crude is already depressing prices for our northern bitumen, threatening the viability of current operations and future plans.
So, this should be good news for Canadian environmentalists, right? Continue reading