Oil investing in Canada
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Oil Status Peaking?
Currently, there is not enough increase in oil production that can supplement any indication of surviving in the next 20 years. The kingpins of oil production—Saudi Arabia, New Mexico, Iran, and Russia—don’t have enough supplies to accommodate the world’s need in the matter of oil and petroleum, which most people think they have enough. In a recent report by the Energy Information Administration, the whole globe consumes a large number of 85.29 millions barrels a day, and with the declining state of oil stock, some countries need to pay more than what they can to get another batch of barrels to fill their needs. And with big countries like the United States, United Kingdom, and others, finding another source is significant to their everyday living.
Finding Alberta in Canada
The skyrocketing price per barrel has risen to $70 from ancient $12 per barrel, and a matter of going $80 per barrel is a conclusion that things have changed. With the discovery of oil sands in Alberta, Canada, American is guaranteed another opportunity to boost their economy status and provide the world with their own supply of oil.
Black Gold Is Golden
A total of 175 billion barrels of oil reserves are estimated to be in the grounds of Alberta, Canada, and that number is considered to be second only to the leader Saudi Arabia, who has a current total of 260 billion barrels of oil reserves. But the interesting part is, with another improvement of technology in the next years, the estimated amount of oil reserves about to be discovered could be staggering. In fact, there could be more than 2 trillion barrels of oil waiting to be dug up.
Getting to Know Alberta
Currently, Canada is producing more than 1.2 million barrels of oil per day, and it’s still rising. Presently, the large oil sand deposits can be found mostly in Canada and Venezuela. But desirable oil deposits can be found in several places in the world; unfortunately, though, most people don’t know about it.
With the current oil production of Canada taking strides and numbers going up, it’s not surprising that they are one of the top 10 countries that produce a large amount of barrels per day. In a recent observation, among the top 10 countries are the following:
#1 Saudi Arabia: 8,711,000 thousand barrels / day
#2 Russia: 7,286,000 thousand barrels / day
#3 Iran: 3,804,000 thousand barrels / day
#4 Mexico: 3,590,000 thousand barrels / day
#5 Norway: 3,408,000 thousand barrels / day
#6 China: 3,300,000 thousand barrels / day
#7 Canada: 2,738,000 thousand barrels / day
#8 Kuwait: 2,270,000 thousand barrels / day
#9 Nigeria: 2,256,000 thousand barrels / day
#10 Iraq: 2,200,000 thousand barrels / day
Investing in Oil
Man can’t survive without water, but man can’t live without oil either. In today’s generation, about 2 billion people or roughly 40% of the world’s population is rapidly entering that state of consumerism. Several kinds of products are going in and out of an average man’s everyday activity; people need clothes that they can wear, beverages to drink, tissues/toothbrush to use, etc. People want Budweiser beer. They want McDonald’s burger and fries. They want Nike shoes. They want microwave ovens, cars, medicine, clocks, pens, television, and other things that we see every day. Things like this won’t exist without the oil.
Here are some known facts:
• In constructing a typical car, an approximate total of 27 to 40 barrels of oil will be needed to make one
• In making average desktop computers, it needs 10 times more of its weight in fossil fuels.
In a developing country, they need oil for electricity, water supply, sewage treatment, bridges, landmarks, health centers, schools, and buildings, among others. It is a proven necessity that requires a huge boost in terms of supply.
An enormous amount of target market and an upside of continuous growth are reasons why gas and oil are lucrative investments.
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