Here's a thought..... Canada has more oil???? U.S. Looks to Canada to Undercut OPEC Emad Mekay WASHINGTON, Jun 26 (IPS) - Faster development of Canadian oil is another way the United States can lessen its reliance on energy sources from Middle Eastern or Latin American countries now deemed unfriendly to the U.S., according to a new congressional study. The Joint Economic Committee (JEC) of the U.S. House of Representatives estimates that Canada's proven oil reserves rank second only to Saudi Arabia, and are possibly even larger. Strong economic incentives would exist, even with oil prices at half the current level, to ramp up oil sands production and more than double output in 10 years, eroding the power of the 11-member Organisation of the Petroleum Exporting Countries (OPEC). The study released by the committee's chair, New Jersey Republican Jim Saxton, titled "Canadian Oil Sands: A New Force in the World Oil Market", says that Canada's oil sands production in the province of Alberta already equals the oil output of Qatar, a major OPEC member. If you want to read the artlice in full follow this link: http://www.ipsnews.net/news.asp?idnews=33774 MTL (yes its in Canada too) Trader
Yeah!!! Exxon and BP are dumb...they go looking in all the wrong places, but fortunately for America, Charlie and HLV are going to Canada to solve our gas problem...Shew! i feel better about my SUV already....With HLV giving up Lucent for Light Sweet Crude, we should see gas at $1.20 a gallon in no time!