Oil runs the world. Nobody can dispute that.

So when recent estimates came out showing that North America may not only end its dependence on foreign oil, but begin exporting it, it is a BIG DEAL.

Why?

Because the need to import oil in order to run a country ultimately means that instead of paying local companies out on the Canadian oil sands, you are actually paying someone in the middle east. By producing large amounts of oil within North America, wealth stays within the countries, further driving forth the economy and consumer spending.
This presents Canada with the opportunity to not only strengthen the economy, but begin innovating new ways to decrease our dependence on crude oil. The International Energy Agency (IEA) estimates that approximately one-fifth of the world’s energy demand will be produced by innovative economically viable “green” energy. With reduced dependence, Canada and the US are appropriately positioned within the next decade to take lead in alternative energy innovation.

The increased production of crude oil on Canadian soil will open up opportunities to invest in innovative alternative means of energy, ultimately severing our dependence not only to foreign oil, but fossil fuels as a whole.

http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/north-america-to-be-net-exporter-of-oil-by-2030-iea-predicts/article5188639/