Crude Oil Resources In Alberta

Decent Essays
Alberta’s Crude Oil Resources What is crude oil? Crude oil is found trapped in the underground rock; it is a natural occurring mixture of hydrocarbon compounds, cause from dead marine life and vegetation from millions of years ago. These materials had died and settled on the bottoms of streams, lakes, and oceans; where sediment had then covered this thick layer of organic materials, which applied heat and cooked this layer of materials to form what we now extract from the ground as petroleum. The critical part of Alberta’s past, present, and future depend on the drilling rigs on the prairies. Since 1914, when Alberta’s first major oil field was discovered at Turner Valley, oil resources have been a very important facet of the provinces ways of life. Alberta's oil industry is an important part of the provinces economy. It has provided thousands of jobs in production, transportation, refining, distribution, and marketing. Crude oil production has been the third-largest source of…show more content…
The Alberta oil sands, 81% of them, are controlled and owned by the Alberta Crown, and royalties are for the people of Albert. The last 19% is owned by the Alberta Federal government within the Aboriginals reserves and by the Hudson's Bay Company, by the railway companies and by the descendants of original homesteaders through rights granted by the Federal Government before 1887. New projects that begin every year are believed to increase to 3 billion barrels per day by 2018, which means Lots of great things for the economy and the job force. The availability of crude oil is high.

Government of Alberta. (2013). Facts and statistics. Retrieved from
Government of Alberta. (2013). Oil. Retrieved from
Government of Alberta. (2013). Oil Sands. Retrieved from
Get Access