{"id":21768,"date":"2011-06-17T12:50:05","date_gmt":"2011-06-17T16:50:05","guid":{"rendered":"http:\/\/www.investmentu.com\/?p=20824"},"modified":"2011-06-17T12:50:05","modified_gmt":"2011-06-17T16:50:05","slug":"forget-opec-invest-in-americas-top-oil-supplier","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/17\/forget-opec-invest-in-americas-top-oil-supplier\/","title":{"rendered":"Forget OPEC\u2026 Invest in America\u2019s Top Oil Supplier"},"content":{"rendered":"

Forget OPEC… Invest in America’s Top Oil Supplier<\/a><\/p>\n

by David Fessler<\/a>, Senior Analyst, Investment U<\/em>
\nFriday, June 17, 2011: Issue #1357<\/p>\n

Ask 10 people the name of America’s top oil supplier.<\/p>\n

Chances are half of them will get the answer wrong.<\/p>\n

A surprising number still believe our top source of foreign oil is Saudi Arabia. They’re now number three, supplying the United States with a little more than one million barrels per day (bpd).<\/p>\n

Mexico is second, at 1.14 million bpd. As you can see from the Energy Information Administration’s (EIA) chart below, the leading crude oil supplier to the United States is…<\/p>\n

<\/span><\/p>\n

Canada.<\/p>\n

Investing in Canada… America’s Northern Neighbor <\/strong><\/p>\n

It sends us just under two million bpd. And there’s money to be made in the Great White North.<\/p>\n

\"Canada<\/p>\n

In 2010, Canada was the source of 22 percent of all of America’s oil imports. Crude oil from Alberta’s vast oil sands<\/a> deposits accounts for more than 50 percent of Canada’s 2.9 million bpd.<\/p>\n

As you can guess, Canada has enormous energy resources. With a population of more than 33 million – one-tenth that of the United States – Canada is the world’s fifth-largest producer of energy. It cranked out 19.11 quadrillion Btus of energy in 2008.<\/p>\n

Its unconventional bitumen deposits also represent nearly 97 percent of the country’s proven reserves. Canada’s total reserves are estimated to be about 175 billion barrels.<\/p>\n

Number Three in Proven Oil Reserves and NOT<\/em> a Member of OPEC <\/strong><\/p>\n

Canada is number three in the world in terms of proven oil reserves. It’s the only country in the top five reserve holders who’s not a member of OPEC<\/a>.<\/p>\n

\"Top<\/p>\n

That’s important to the United States for several reasons…<\/p>\n