I'm not certain how many of you are aware of it, but a major chunk of the petroleum consumed in the United States comes from Canada, not the middle East.Â Canada is a major oil producing country (so why is gasoline more expensive here than in the U.S.?) and produces both standard oil and also oil from tar sands that is sold to the United States.Â They are a major supplier to America.
Now the tar sands have great potential of providing up to about 37% of Americas needs.Â There is also the standard petroleum produced.
The problems with the Canadian tar sands are that it takes energy to convert the tar to oil, the conversion process produces a lot of greenhouse gas, and the byproducts of that production are toxic wastes.
I found a good article in Slate this morning that logically weighs the trade-offs and solutions and the future of expanding Canadian production is looking great.
Living on Canada's Oil Must we really choose between energy security and a climate disaster? Also, remember that Russia has more oil than anyone else in the world has left. I would love to see a pipeline run across Russia to Okhotsk and a tanker marina set up.Â Or a pipeline through Petropavlovsk and across the Bering Strait to Alaska.
I would much rather see my dollar bolstering the Canadian dollar or the Ruble, than the Riyal or the Bolivar.