Canada's Oil Industry Challenges and Insights

The video explores the impact of oil on countries, focusing on Canada's challenges and opportunities. Despite having the third-largest oil reserves, Canada struggles with high extraction costs, geographical disadvantages, and environmental concerns. The video discusses the potential for growth due to global oil shortages but questions whether Canada should pursue this path given its strong economy and environmental risks.

Which country is mentioned as having a $2 trillion oil company?

• Canada

• Saudi Arabia

• Venezuela

• United States

What is the primary type of oil found in Canada?

• Crude Oil

• Shale Oil

• Natural Gas

• Oil Sands

Why is Canadian oil more expensive to produce compared to Middle Eastern oil?

• Government taxes

• Lack of skilled labor

• Complex extraction process

• Higher transportation costs

What is a significant geographical disadvantage for Canada's oil export?

• High altitude terrain

• Dependence on the U.S. market

• Proximity to the Arctic Circle

• Lack of access to the Atlantic Ocean

What is the main reason for the delay in the Trans Mountain Expansion project?

• Environmental opposition

• Lack of funding

• Political instability

• Technical difficulties

How does oil sands extraction impact the environment compared to traditional oil extraction?

• It is more cost-effective

• It uses less water

• It emits less pollution

• It is more energy-intensive

What health concern is associated with areas near oil sand production?

• Rising obesity levels

• More frequent heart attacks

• Higher cancer rates

• Increased respiratory diseases

What global event has created an opportunity for Canada to expand its oil industry?

• Middle Eastern oil embargo

• Sanctions on Russian oil

• U.S. oil production decline

• Chinese oil demand surge

Why might Canada choose not to expand its oil industry despite having large reserves?

• Competition from renewable energy

• Insufficient government support

• Desire to protect the environment

• Lack of international demand

What is a potential benefit of Canada not heavily relying on oil revenue?

• Increased foreign investments

• Lower national debt

• More stable economy

• Higher employment rates