Estimates come and go, but they are still worth acknowledging from an investment perspective. Measuring out until 2030, the Canadian Association of Petroleum Producers forecasts total Canadian oil production and breaks it out by geographic region and source type. This particular target was recently upgraded by 500,000 barrels per day (bbl/d) to 6.74 million bbl/day. For producers, this is great news.
As a group, oil sands producers look to produce 77% of the total 6.65 million bbl/d to come from western Canada. In the following video, Motley Fool analyst Taylor Muckerman walks through which two companies he believes could end up controlling this increased market share. Both are likely household names, but their individual growth goals hint at a strong decade ahead.
Another vast Canadian resource that could be on the verge of a major move higher is uranium – the key ingredient for nuclear power. Click here now to download our special FREE report “Fuel Your Portfolio With This Energetic Commodity”. We think you’ll be surprised at how bright the future is for uranium, how far these 2 stocks have fallen, and how quickly they could rebound. Click here now for the nuclear ride of your life!
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Fool contributor Taylor Muckerman does not own shares of any of the companies mentioned at this time. The Motley Fool doesn’t own shares in any of the companies mentioned.