Canada applauds Bush plan for continental energy market

Ottawa and Canandian oil industry leaders have responded enthusiastically to plans by the administration of US President George W. Bush for a continental energy policy in which Canada would play an expanding role.Canada is already the top exporter of natural gas to the US, with exports of 3.5 tcf/year, or 15% of US needs, and the third-largest crude supplier, at 1.4 million b/d.But it is the huge Canadian potential in both oil and gas that Washington, DC, sees as a key element in the Bush blueprint to solve US supply problems.The Canadian energy storehouse includes:300 billion bbl of bitumen reserves in the oil sands of northern Alberta, with 2.5 trillion bbl in place.Conventional oil res...

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