Chamber members learn about oil sands economic impact on region
Members of the Lima Allen County Chamber of Commerce learn how oil sands impacts our economy.
Oil sands are exactly what they sound like, oil and sand mixed together. The sand is then taken out so only oil is left.
Ninety-seven percent of Canada's oil reserves are found in the oil sands. The Canadian Energy Research Institute says oil sands will create 905,000 jobs by 2035 as it's further developed. Ohio relies greatly on oil sands and about 26,400 of those jobs could come to Ohio.
"From an energy security point of view a large majority, over 80 percent of crude processed in the state comes from Canada and as I say, the oil sands is nearly half of Canada's crude production and is increasing rapidly as a percentage so it also means energy security for this community and this state," Don Thompson, Executive Advisor for Sustainability and Oil Sands Outreach, said.
Husky Energy has a number of oil sands operations and has some oil sands properties in Canada it's looking to develop.