Canada reserves high, exports from the oil sands of Alberta increasing and billions authorized for new projects underway.

U. S. Dept. Energy, EIA estimates:
Saudi- 264 billion bbls.
Canada- 180 billion
Iraq- 112 billion

Production expected to be 3 million bbl/day by 2015. National Energy Board of Canada estimates. Current production costs are $30-$35/bbl, so current prices at over $70/bbl offers a profit.
New techniques require much less water than current methods. New multi-billion dollar pipeline authorized.
www.neb.gc.ca; "Canada's Oil Sands- Opportunities and Challenges to 2015: An Update Questions and Answers.

Pipeline and refiners plan $31 billion expansion by 2015.
A $3 billion addition, the 30-inch pipeline being extended from Illinois to the Gulf Coast will carry oil sands crude to Texas refiners. (Exxon-Mobil and Enbridge).
The Gateway pipeline will carry oil sands production to the B. C. west coast, for China and California. Enbridge the constructor.
http://oilsandstruth.org
Also reported in American Petroleum Institute Magazine, "In the Pipe."

(Not pertinent to Canada production, but British Petroleum and ConocoPhillips will build a 1000 mile pipeline from Alaska south through Alberta. NY Times.)