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covery in North America in 1948. Then, early in 1949, came the discovery of
the Golden Spike field about twenty-two miles southwest of Edmonton. This
well encountered 545 feet of oil-bearing rock, the thickest ever found in Canada.
New discoveries have also been made at Barrhead, Whitemud, Joseph Lake,
Bon Accord, Stettler and Pincher Creek. The importance of these finds will
not be known until further drilling has been carried out.
Possible oil production from the new fields already exceeds both refining
capacity and demand in the Prairies. To be of maximum benefit to the
country, the oil must be transported to large new markets at low cost and
to this end a 1,150-mile pipeline is being constructed from Edmonton to the
Great Lakes. It will supply the prairie refineries along the route and tankers
will carry Alberta crude oil to refineries on the Great Lakes. The pipeline
will cost about $90,000,000 to construct and it is expected to be in full operation
by the spring of 1951.
Besides the known oil fields, Canada has a huge reserve in the Athabaska
tar sands. This area consists of some 10,000 square miles of oil-bearing sand
as much as 200 feet deep. So far no economical method of recovering the oil
has been discovered but nearly all oil men believe that the problem will some
day be solved. When that day comes Canada will have a tremendously rich
resource.
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