[update 1] Alberta Oil Sands Proving Rich for Developers.

0 Comments | M2 Presswire, April, 2006

M2 PRESSWIRE-7 April 2006-Axcess News: [update 1] Alberta Oil Sands Proving Rich for Developers(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:07042006 New York - In a story published in early March, AXcess News covered the Canadian oil sands being developed in Alberta where government figures put the reserves second only to Saudi Arabia.

Today, after the U.S. Department of Energy reported that crude oil stocks rose 2.1 million barrels, traders concern over world supplies pushed crude oil up over $1 per barrel, or 3 percent. Peoria, Illinois-based Caterpillar, Inc. (NYSE: CAT) and other heavy-equipment manufacturers could stand to gain as much as $5 billion in sales as a boom in oil squeezed from Canadian sand may boost demand for mining trucks and parts....