Canada’s oil sands are spread across an area about the size of Ireland, and contain an estimated 1.7 to 2.5 trillion barrels of bitumen.  Using available technologies, 311 billion barrels are considered to be recoverable, which makes Canada’s oil sands one of the largest oil deposits in the world.

With current world oil prices rising, profits are healthy and capital investment for expansions and grass roots facilities is justifiable.  By the end of 2006, the oil sands accounted for 50% of Canada’s total crude output, and 10% of North American production.  Current oil sands producers are Syncrude, Suncor, and Albian Sands (Shell).  The newest major player is Canadian Natural Resources Ltd. (CNRL).  Construction for the CNRL’s project is underway with its first completion phase scheduled for 2008.