The oil and gas industry in Alberta is doing extremely well right now. Canada has the worlds 2nd largest crude oil reserves and most of them are in Alberta, Alberta supplies the US with 15% of their oil, and the oil sands account for more than two-thirds of investment in Alberta. Oil sand investments increased by 14% from 2007 to 2008. For 6 years in a row, Alberta/ Canada has been the largest gas supplier to the US. Canada is the 2nd largest exporter and is the 3rd larger producer of natural gas.
I think that the oil and gas industry in Alberta is going to keep rising for several years. There still is a large demand for this industry and Alberta has all of the resources. I believe that the elasticity for the oil and gas industry in Alberta is quite high. We have supplied our country and others with this industry for several years now and I am sure that there is lots more to come.
http://alberta.ca/home/181.cfm
Alberta Annual Oil and Gas Industry Investment, 1999 - 2008
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