Canada represents a fascinating conundrum in North American oil production.
First off, its population of 34 million represents the largest foreign oil source for its giant southern neighbour, with a population nearly 10 times its size.
According to the U.S. Energy Administration, the United States total crude oil imports now average 9,033 thousand barrels per day (tbpd), with the top five exporting countries being Canada (2,666 tbpd), Mexico (1,319 tbpd).
Unlike many oil-exporting countries to the U.S., beyond its occasional irritation at losing the World Series, Canada harbors no significant anti-Americanism and better yet for investors from south of the border, has a stable, pro-business friendly investing environment.
Canada's energy production runs the gamut from the current bete noire of environmentalists, oil production from tar sands, to such cutting-edge technologies as electrical production from wave power.
Despite its hydrocarbon riches, Canada is also forging forward on renewable energy, and it is here that savvy investors ought to watch developments.
Canada's Brookfield Asset Management Inc. and Brookfield Renewable Power Fund have announced their intention to combine their power generating facilities into one of the world's largest renewable power businesses.
The proposed arrangement is between two of Canada's largest energy giants. Brookfield Renewable Power Fund is one of the largest power income funds in North America…