China could obtain a ‘very secure source’ of energy if it decides to tap oil sands in the Canadian province of Alberta, according to the leading Canadian bank, Scotiabank.
Alberta is forecast to produce 1.96 mln barrels per day of crude oil by 2008 from oil sands, according to Scotiabank.
Patricia Mohr, vice president of economics at Scotiabank said Canada will also benefit by developing a new market in China, as an alternative to the United States. Canada’s Enbridge is building a Pacific Coast pipeline from Edmonton to Kitimat in British Columbia, which will make shipments to Asia possible.