STUDY: North American Oil Sands – History of Development, Prospects for the Future (CRS)

When it comes to future reliable oil supplies, Canada’s oil sands will likely account for a greater share of U.S. oil imports. Oil sands account for about 46% of Canada’s total oil production and oil sands production is increasing as conventional oil production declines. Since 2004, when a substantial portion of Canada’s oil sands were […]

Myth vs. Fact: Canadian Oil Sands will Have no Effect on US’s National Security Interests

MYTH:  Shutting in Canadian oil sands will have no effect on those unstable regimes that seek to harm the United States’ national security interests. FACT: The Council on Foreign Relations has concluded that production from Canada’s oil sands could weaken such states by displacing their production and driving down prices: “If, over the long term, […]

Myth vs. Fact: US does not need Oil Sands; American Oil Imports are Decreasing

MYTH: We don’t need the oil sands because American imports of oil are decreasing. FACT: According to the U.S. Energy Information Administration, U.S. crude oil imports did in fact fall in 2011 as a result of higher domestic oil production and decreased consumption of refined products.[1] However, EIA projects that oil and other liquid fuels […]

Myth vs. Fact: Few American Multinationals will Benefit from Canadian Oil Sand

MYTH: Only a few large American multinationals will benefit from Canadian oil sands production. FACT: At least 2,400 American companies from 49 states are already involved in the development of Canada’s oil sands.[1]  A variety of American companies manufacture equipment and products that are then used in Canada for oil production – everything from engines […]