Canada is first as far as exporter of oil to the US. Whose second? Mexico. And America gets 40% of it oil from its own wells. Canada has large sources in its oil sands, but it isn't cost effective to gather from that source. We aren't at risk of running out of ALL oil, just "sweet crude" which is called that because it can be gathered from a conventional well. The BP spill last summer was the result of cost cutting on a very expensive complex well (not easily accessible). When sweet crude runs out, we will need to look for oil in odd places (which also adds to cost for oil companies).
Originally Posted by Danthurs
I remember something a teacher said when I was in school. Better to use up theres first.
As I was touching on before, much of the US' untapped reserves are in hard to get to spots and probably won't help with lowering pump prices as well, its more wells that can be built cheaply and risk blowing up. Its just better to leave that supply to itself untouched since it doesn't make much sense to drill for it.