Alberta’s massive oil and gas reserves keep growing – here’s why

Most people believe that the country must be rich if there is oil and gas in the ground. Thats even true for many so-called energy professionals. They have no notion of what it takes to find the oil, drill for it, produce it, refine it into a useable product, and transport/distribute it to market. Location is very important in this calculation. If you have a giant oil field in the middle of the worst arctic conditions, you will pay a lot to lift that oil. If the market does not give you what you need to lift, this oil (or gas) is called stranded. Sometimes, new technology helps with difficult fields in benign zones. But hard environmental conditions or security problems are much harder to deal with. This is why shale wins the long game.

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