Oil Prices Will Not Reach $100 in Next 10 Years:The Emirates Economist

The Emirates Economist, drawing on information provided by Macleans, notes that many experts estimate Alberta has oil-sand-based oil reserves vast enough that the province is likely the second-largest holder of oil reserves in the world, second only to Saudi Arabia. He also notes that recovery of the oil-sand reserves is easily economically feasible at current oil prices. He concludes:

The Canadian tar sands are one reason I don't think oil will reach $100 per barrel in the next 10 years.

Take that, Matt Simmons.