Think Saudi Arabia has a lock on oil? Think again. Turns out Canada has almost as much crude, if not more. In fact, our neighbor to the north is the top oil exporter to the United States. (Saudi Arabia ranks third after Mexico.)
But with crude prices hanging so high, Canada's unconventional oil sands -- or tar sands, as they're often called -- have become wildly profitable, adding more than 170 billion barrels of oil to Canada's reserve base. Output is set to nearly triple during the next 10 years, and the Canadian Association of Petroleum Producers is predicting a yield of 6 million barrels of oil a day by 2030, a little more than half of what Saudi Arabia produces now.
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Think Saudi Arabia has a lock on oil? Think again. Turns out Canada has almost as much crude, if not more. In fact, our neighbor to the north is the top oil exporter to the United States. (Saudi Arabia ranks third after Mexico.)
