AM-05-11 Prospects for an Expanded Marketplace for Canadian Crude

Description:

Today, Western Canada is one of the most attractive oil provinces in the world. The combination of an enormous reserve base, very attractive fiscal and country risk characteristics, technology advances that have lowered the cost and risk of producing heavy oil, improvements in upgrading processes, and access to the largest crude market in the world all promise to continue to drive Western Canadian crude production to new levels. In addition, the widespread upward shift in long-term oil price expectations over the last few years has also acted to increase the level of interest, and thus production, in Western Canada.