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.
Contents contributed and discussions participated by Sultan Lalani
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