CBS' 60 Minutes Spotlights Canada's Oil Sands

On January 22, 60 Minutes startled millions of people who had never heard of Canada's oil sands, when it featured the oil boom in Alberta, Canada. According to 60 Minutes, the area has 8 times the oil reserves of Saudi Arabia, and imports from Alberta will eventually exceed imports from Saudi Arabia. $100 billion will be invested in the oil sands in the next 10 years.

In an interview with legendary oil investor T.Boone Pickens, Pickens noted that his investment in the oil sands is now his biggest investment.

To all the people who associate oil with giant oil wells and pumps, the footage was a bit of a shock. There is no need for exploration. The oil sands are right there. It's a matter of digging up the "oil sands" and transporting it to refineries in the biggest trucks in the world.

And with unsettling news from oil producing countries like Iran, Iraq and Venzeula, it was nice to hear there is all this oil where there is no war or war threats. It's just very cold up there.