IEA chief: Worldwide energy security favors nonconventional oil

12/09/2002
Because of oil price fluctuations and terrorist threats, the issue of energy security is back on the public agenda with renewed focus on nonconventional sources, says Robert Priddle, executive director of the International Energy Agency.Priddle late last month told a Calgary conference on the outlook for nonconventional oil (NCO) that there is a need to evaluate the potential of that resource in the current geopolitical situation. NCO includes heavy oil, extra heavy oil, bitumen, and oil shale. Large deposits of such resources are located in a number of areas, including the oil sands of northern Alberta, the Orinoco oil belt in Venezuela, and oil shales in Australia.The IEA head said ther...
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