Canadian Oil Reserves

Canada holds 10.4% of the world’s proven oil reserves.

This is 173,900 Million barrels. That is 173.9 Billion barrels.

Yes, it is vast.

What is potential value of this black gold ?

Today (Mon 29th Sept 2014) is $97.70 a barrel.
That is £60.10 per barrel.

So at £60.10 and you have buried 173.9 Billion barrels in Canada one can work out the value.

173.9 Billion x £60.10 = £10,451,390,000,000

Yes, that is £10 Trillion which is over 6 times the UK annual GDP.

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