Canada's Oil Sands Valuable to US Energy Security: Top US Energy Official tells C.D. Howe Institute

    CALGARY, Oct. 22 /CNW/ - Canada's oil sands are extremely valuable to the
United States in this era of growing energy insecurity, according to Jeffrey
Kupfer, acting Deputy Secretary of the US Department of Energy. Kupfer told a
C.D. Howe Institute dinner in Calgary last night that with current oil sands
production at 1.2 million barrels per day - and with projections that it will
reach 2 million barrels per day in 2012, 3 million barrels per day in 2017,
and 3.5 million barrels per day in 2020 - "this resource is extremely valuable
to the United States." The biggest challenge, he added, lies in making sure
this vast resource is developed in an economically efficient and
environmentally responsible way. The Deputy Secretary said "the United States
greatly values Canada as our most important, secure and reliable source of
imported oil."
    For the text of the speech, click here.

For further information:

For further information: James Fleming, (416) 865-1904, C.D. Howe
Institute; or Healy Baumgardner, (202) 586-4940, US Department of Energy

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