Tradelines News

Get the latest news and updates on cross-border customs and international trade.

Why Canada is the Next Frontier for Shale Oil

Posted January 29, 2018

Under Economic Issues, International Trade Issues

(Nia Williams – Reuters)

The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oilsands.

Now Canada is looking to its own shale fields to repair the economic damage.

Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations, which they say could rival the most prolific U.S. shale fields.

Canada is the first country outside the United States to see large-scale development of shale resources, which already account for eight per cent of total Canadian oil output. China, Russia and Argentina also have ample shale reserves but have yet to overcome the obstacles to full commercial development. Click here to read more.