Oil Sands Development in Alberta, Canada: A Geological, Environmental, Socio-Economic and Industrial Perspective Review

Abstract

The extraction and development of oil sands in Alberta, Canada, present a complex interplay between economic growth and environmental sustainability. Alberta boasts the world's largest concentration of oil sands, with approximately 1.7 trillion barrels of bitumen in place across its three major areas: Athabasca, Peace River, and Cold Lake. Alberta's oil sands, particularly in the Athabasca Basin, hold substantial reserves, necessitating specialized extraction technologies and great environmental challenges. The economic benefits including job creation and contributions to Canada's GDP are juxtaposed with the volatility of oil prices and the environmental costs. This review provides a comprehensive analysis of the geological history, technological advancements, and a brief review of the environmental and socio-economic impact of Alberta's oil sands industry. This paper is to provide a comprehensive report on how the industrial revolution took place from 1980 to the present, detailing all operators, types of industries, project statuses, and oil sand regions. The GIS maps further illustrate a visual representation of the industry’s evolution. The analysis concludes with a discussion on the future trajectory of the oil sands industry, underscoring the imperative for sustainable development amid global climate change pressures.

Keywords

• alberta oil sands technology
• research authority
• gross domestic product
• international energy agency
• canadian association of petroleum producers