Geographically, Canada is situated just north of one of the world's largest markets of energy consumers, and nearly 99% of Canadian crude oil exports find their way to American refineries. However, thanks in part to the remarkable development in recent years of new technologies like horizontal drilling and hydraulic fracturing in shale rock formations, the United States has substantially increased its production of hydrocarbons. This evolution, related to the growth potential of production in Alberta, carries the risks that the supply of Canadian oil will exceed demand in certain regions of North America.