Alberta was overlooked before but today investors may see the result of higher oil prices and abundant proven oil reserves in Alberta is amazing. It has been said that the oil companies have earned enormously profits and up their penny stocks to even thousand percent increased. How good investors look at this opportunity would definitely raised their assets astonishingly. Actually it was revealed in the 60 minutes by CNBC television channel in year 2006 and at that time oil price was about US$40 per barrels. They believed that the oil boom would not be in anywhere or in the Middle East but in Alberta.
Some oil companies involved in Alberta are expanding to oil sands and today the local government will be more aggressively by introducing new tax incentives and deregulation over the oil sands projects to boos its production. Probably we could observed the oil companies’ performance which include the oil sands project such as Suncor Energy Inc, Marathon Oil Corporation, Nexen Inc, Canadian Oil Sands Trust, Imperial Oil Limited, Statoilhydro, Shell and Exxon. What a fantastic investment in oil companies give incredible return for investors during 5 years.

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A Place Called “Alberta”

Canada is a well known nation with a huge proven oil reserves in the world after Saudi Arabia. These reserves include non conventional oil (oil sands) and conventional oil (crude oil) and over 95% are located in Alberta. In 2007, it was estimated at 179.2 billion barrels of proven reserves compared to Saudi Arabia’s 260 billion barrels. However, this number for oil sands reserves in Alberta is the only companies can get with the current technology today. It has not been included beneath surfaces which are believed to be more staggering number. Experts may bet the number could be more than two trillion!! This would bring Canada to be the top oil producer in the world soon. It has been said that Oil sands’ deposit may represent as much as 2/3 of the world total petroleum resources and most of world oil sands reserves are located in the province of Alberta (Canada) and Venezuela. Just from both countries’ reserves may equal to the world’s total reserves of conventional crude oil.

Oil sands or extra heavy oil (Crude Bitumen) contains mixture of sand (clay), water and extra heavy crude oil (bitumen) and it is available in various countries. Differ than conventional crude oil which requires less effort to process into gasoline, diesel and others, oil sand is much more difficult to be extracted, transported and refined by using conventional method. Oil sands have more sulfur and several metals, this formation create very heavy crude oil and high viscosity. Therefore to extract crude bitumen from its deposits would more complex than conventional oil. Refineries must use high technology to reduce viscosity usually by using steam or hot air. This technology is called In Situ method which requires more energy and more water than normal technique. Subsequently, oil sands are ready to be converted into synthetic oil and petroleum products. Despite complexity and costs to extract crude bitumen but more oil sands are being mined vastly. Higher oil prices above US$100 per barrels have given significant prospect to the oil sands more profitable.
Today Canada is the largest crude oil supplier and refined products to the U.S. with more than 95% are exported to the U.S. Abundant resources such as mining, oil, and agriculture makes Canada as one of the world’s wealthiest nation. Furthermore, it becomes one of the few developed nations with net energy exporters. Thanks to the Alberta which is now becoming the most prominent country in Canada. Unemployment rate in Alberta had sink to the lowest level and per capita incomes had doubled to the Canadian average. Now, Alberta is not overlooked anymore and during few years ahead probably we could hear more staggering news from Alberta.

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