The oil sands in northern Alberta are crucially important to the Canadian economy. People from all over the country are traveling there to find work. The news is filled with controversy over proposed pipelines (the Keystone XL and the Northern Gateway) to carry the oil to export markets. Here are 10 things everyone should know about the oil sands. Words: 878
So says an article* posted on www.sympatico.ca which Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) below for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
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The article goes on to say, in part:
1. The oil sands are NOT the “tar” sands
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In the past, the oil sands were referred as tar sands because the bitumen – the very viscous oil found in the oil sands – was used for roofing and paving tar. This was an ineffective use of the oil sands because it did not harden enough.
2. Alberta has the third highest amount of proven crude oil reserves in the world
3. Only 54% of the oil in the oil sands is currently recoverable
4. The U.S., Venezuela and Russia also have oil sands
5. 2 methods are used to extract oil from the oil sands
6. Bitumen from the oil sands must be upgraded before it is sold as crude oil
7. Upgraded bitumen (known as synthetic crude) travels by pipeline to refineries across North America
8. Producing oil from the oil sands creates more greenhouse gases than from ”conventional” oil
9. Oil companies are required to return mine sites to their natural states once a mine is finished
10. The oil sands are the highest non-renewable revenue generator in Alberta
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