Sentences with phrase «oil sands oil»

I come to the conclusion that oil sands oil is the fair trade coffee of the world's oil industry.

But this one consideration — the damages associated with the additional carbon emissions of oil sands oil — is effectively accomplished by denying the pipeline application.

The State Department estimates that oil sands oil has 17 % greater well - to - wheel CO2 emissions than average US crude, which corresponds to approximately 200 additional pounds of CO2 emissions per barrel relative to average US crude.

How much greater would the carbon surcharge be for oil sands oil?

(But because extraction accounts for only a small portion of oil's carbon emissions, which primarily issue from the tailpipes of vehicles, the State Department calculates that oil sands oil is only 17 percent more carbon - intensive when the entire lifecycle is considered.)

But transporting oil from western Canada by pipeline is less expensive than shipping by rail, which requires specialized cars and / or specialized handling because of the very high viscosity of oil sands oil.

This means that oil sands oil has overall (well to wheels) emissions some 17 % greater than for typical crude oil and most of these extra emissions are due to energy needed to extract bitumen from the ground.

If oil sands oil eventually finds an easy outlet to the Gulf Coast — perhaps through the proposed Keystone XL pipeline project — the price for upgraded synthetic oil will likely rise to reflect the world market value, currently $ 110 per barrel.

Oil is traded on the world market, so if the oil sands oil is produced at all, it makes no difference whatever if it's the Chinese that get the oil, since that displaces some other oil they would have used.

Not exact matches

«Despite the temporary pullback in production in the first quarter, we still expect our oil sands volumes for the year to be within our original guidance of 364,000 to 382,000 barrels per day,» he told a conference call with analysts.

And even if that doesn't happen, current prices remain too low to encourage new investment in the oil sands.

Transporting sand, drilling pipe, and crude oil furnished only 4.5 % of UP's volumes at the peak in 2014.

Cenovus, one of the biggest of Canada's oil sands producers, said in March that it was operating at lower capacity due to the maxing out of pipelines and other routes through which it sends heavy oil south to U.S. markets.

CALGARY, Alberta, May 2 - Suncor Energy Inc said on Wednesday that its current growth plan is not constrained by pipeline bottlenecks and it does not expect to make any further major investments in Canada's oil sands until market access improves.

Job creation is projected to slow down over the next few years due to technological advances in oil sands processing and a slower growth in international demand for oil products, but the growing demand for base metals is expected to buoy employment opportunities.

Some of the producers in Canada's oil sands discovered they would suffer bigger loses if they actually shut down their sprawling facilities.

Grantham also has strong views on the oil market, which isn't surprising for a devoted environmentalist who participated in Keystone pipeline protests and has called for the death of the «tar sands.»

Shell agreed last year to sell most of its stake in the oil sands to Canadian Natural for $ 7.25 billion.

Many oil sands production facilities, while not directly harmed by wildfire, have been taken offline as companies evacuate

Last March, Royal Dutch Shell said it was selling most of its stake in Canada's oil sands, a vast project that has extracted millions of barrels of sticky, gooey hydrocarbons from the ground in a process that resembles mining more than drilling.

Shell has been selling off billions of dollars worth of projects, including the oil sands, that it believes can't meet its new low - cost bar.

Part of Shell's Athabasca oil sands project in Alberta, Canada.

While the fire has not directly damaged major oil sands production facilities, it has precipitated major disruption to the industry as companies evacuate employees.

The oil and gas giant announced that it was unloading its oil - sands assets, for $ 7.25 billion, so that it could double down on businesses «where we have global scale and a competitive advantage.»

When the oil - demand peak came, Shell believed, petroleum prices might begin a slow slide, dipping too low to cover the costs of oil - sands production.

Some of those who lost their jobs in the oil sands are working again, sure, but not at the six - figure salaries they once enjoyed.

But if we didn't get the right people with the right skills to move, we might solve the problem of restaurant workers, but we wouldn't solve the problem of engineering for the oil sands.»

Months of deliberations behind closed doors at Shell headquarters in The Hague, Netherlands, had led the top brass at the world's largest non-state-owned oil company by sales to conclude that the energy industry was changing fundamentally — in a way that could turn the profitable oil - sands operation into a liability.

That entity, which has a balance sheet of 4.5 billion euros ($ 5.3 billion), was severing links with coal, tar sands crude, and oil shale.

Hydraulic fracturing or «fracking» involves injecting liquids, sand and chemicals under high pressure to break apart tight rock formations underground to allow more oil and gas to escape into the well.

It was a modified steam - assisted gravity drainage (SAGD) technology that, instead of burning natural gas to create steam to inject into the oilsands layer and thus «melt» the bitumen (heavy oil) away from the sand (as some experts describe it, burning a clean fuel to create a dirty one), it would burn a bituminous byproduct of the upgrading process in a closed loop.

The latest National Energy Board forecasts for increases in oil sands production through 2025 roughly add up to what Keystone and Trans Mountain could handle, says University of Calgary economist Trevor Tombe.

-- One pipeline would carry up to 525,000 barrels a day of oil sands products west to Kitimat for export.

The B.C. government has pinned much of the province's economic future on LNG exports, saying the projects are equivalent to Alberta's oil sands in terms of jobs and revenue generation.

But the project has galvanized environmentalists who say developing Canada's oil sands would spike carbon emissions linked to climate change and that much of the oil would be sold abroad.

«Rick's impact on the oil sands industry, the Canadian business community, and the broader community has been immeasurable,» Steve Williams, Suncor's current CEO, said in a statement.

Tuesday vote was taken hard in Canada where development of the oil sands is important to Alberta's budget.

Job creation is, however, projected to slow over the next few years due to technological advances in oil sands processing and slower growth in international demand for oil products.

Rick George, who helped pioneer Canada's oil - sands industry during two decades at the helm of Suncor Energy Inc., died on Tuesday after a year - and - a-half battle against acute myeloid leukemia.

Suncor Energy Inc., the world's second - largest oil - sands producer, said first - quarter profit fell 23 percent on lower output, higher costs and absence of a gain from insurance settlements a year earlier.

The U.S. can produce as much shale oil as it wants, but its Gulf Coast refineries are geared toward heavier kinds of crude that can easily process oil sand bitumen but aren't geared toward the lighter crude coming out of, say North Dakota's Bakken play.

Labor unions have pushed for approval of the pipeline, saying it would create thousands of construction jobs, while environmentalists opposed it because it would increase greenhouse gas emissions from Canada's oil sands.

The Panel excluded any discussion of the environmental impacts of oil sands development, although they did allow the consideration of increased oil prices generated by the pipeline on the taxes and royalties associated with forecast future oil sands production.

Given the projected growth in the oil sands, this might seem like a sure thing, but it's not.

The Northern Gateway project consists of two pipelines (one to ship oil west, the other to import lighter oil products used to dilute oil sands bitumen) and a marine terminal.

«If you give China too much access to the oil sands, you expose yourself to that kind of retaliation.»

What will also be an issue, potentially for legal appeal, is what the Joint Review Panel didn't consider: the impacts of oil sands development.

The letter also argues that the chiefs of some of the biggest companies involved in Alberta's oil sands industry have publicly come out in favor of such stricter carbon pricing.

The pipeline would connect Canada's tar sands with refineries on the Texas Gulf Coast that specialize in processing heavy crude oil.

And as the Bank of Canada noted in its policy statement, prices are higher in part because of supply disruptions, including the Alberta oil sands.