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Approximately $120 Billion in Planned Construction Spending Scheduled in Canada's Oil Sands Patch Won't Ease Pain of $90 Crude Oil, an Industrial Info News Alert

Posted on: Friday, 26 October 2007, 09:00 CDT

Researched by Industrial Info Resources (Sugar Land, Texas) -- The development of Canada's oil sands is now the center of international attention. The high price of crude oil and security concerns regarding the current net crude oil producers are continuing to be a driving force in bringing this resource to market. Alberta's economically recoverable oil sands reserves currently stand at 178 billion barrels and are second only to Saudi Arabia. Some estimates put the total recoverable resource above 300 billion barrels. High prices could be the norm for several years due to the tightening global supply and demand balance. The economic expansion of China has been a driving force of higher prices, and if India continues on its expansion course, high crude oil prices could continue well beyond the historic cyclical prices.

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Industrial Info Resources (IIR) provides marketing communication services ranging from industrial database solutions to market forecasting, custom analytics, and specialty promotions that support high-level image campaigns. For more information send inquiries to oil&gasproductiongroup@industrialinfo.com or visit our website at www.industrialinfo.com.

 Contact: Joe Govreau 713-783-5147  

SOURCE: Industrial Info Resources

Source: MARKET WIRE

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