Abstract

Canada is a country rich in petroleum. Not only has it been, for many years, the only country in the western world totally self-sufficient in production, it has also been able to supply a healthy export market. For many years discoveries of new oil exceeded consumption, and substantial proven reserves were accumulated. In spite of this rather considerable development of production, only one major basin has been explored to any substantial degree, and only a fraction of the total oil believed to lie in place has been discovered to date. Provinces with oil reserves have prospered under stable, equitable legislation that fostered substantial expenditures of funds for exploration (Figure 1 ).

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