Boasting reserves (174-billion barrels) second only in size to Saudi Arabia,
the tarsands have placed Canada in the remarkable position of holding nearly 60%
of the investable oil reserves in the world. This explains why Imperial,
ExxonMobil, Shell, Total and other energy multinationals have committed nearly
$100 billion in a feverish rush to build as many as 51 projects in the sands
over the next decade. Not surprisingly, stocks in 10 major firms with key
tarsand investments gained a whopping 370% in value between July 2003 and April
2006. "In the big picture, deepwater oil and the oilsands are the only game left
in town," says CIBC chief economist Jeffrey Rubin.