Washington (Platts)--13May2008

Canadian net electricity exports in 2007 were nearly double the five-year
average of 15.7 TWh, and generated about C$3.1 billion (US$3.08 billion) in
revenue, the National Energy Board said in its Canadian Energy Overview 2007.

And while domestic electricity demand was met in 2007, the report pointed
to the need for new or upgraded electricity transmission facilities to meet
higher power demand brought on by population and economic growth.

In addition, the overview said that record-high oil prices fueled a 7%
jump in Canadian crude oil production in 2007.

Canada pumped an average of 2.8 million b/d, of crude oil last year, with
almost half coming from Alberta's oil sands, the report said. Oil sands
investment jumped 17% from 2006 to $18 billion in 2007, the NEB added.

The report, which was released on Monday, said Canada in 2007 remained
able to meet all of its own energy needs, adding that the oil industry last
year accounted for nearly 20% or $90 billion of the total value of Canadian
exports.

Canada, the report said, exported an average of 1.85 million b/d of crude
oil in 2007 worth more than $41 billion, up from $39.3 billion in 2006. More
than half of Canada's crude oil exports flowed to the US Midwest. According to
the US Energy Information Administration, Canada supplies nearly 20% of US
daily crude oil imports, more than any other nation.

The overview added that while Canadian natural gas production fell
slightly to 16.8 Bcf/d, exports rose 4.4% to 9.1 Bcf/d in 2007. The average
export price last year, however, was about 5% below the average price in 2006,
leaving revenue from gas exports virtually unchanged at about $24.3 billion.