The forecast
sees oil sands production rising from 1.5 million barrels per day (actual) in 2010 up to 3.7 million barrels per day in 2025.
Not exact matches
If you're talking about a new project with no significant investment already deployed, building a new mine if you expect today's prices to hold in the long term is a tough call — a 50 - year
oil sands project is a lot of risk for less than a 10 % rate of return — but even there, you can
see the impact of the lower Canadian dollar and the hedge provided by a royalty regime which lowers rates when prices are low.
Cenovus» first quarter
saw an increase in its
oil sands production to 144,000 barrels per day, up 20 % from the same period in 2014, and lowered operating costs across its assets.
If you're talking about a new project with no significant investment already deployed, building a new mine if you expect today's prices to hold in the long term is a tough call — a 50 year
oil sands project is a lot of risk for less than a 10 per cent rate of return — but even there, you can
see the impact of the lower Canadian dollar and the hedge provided by a royalty regime which lowers rates when prices are low.
It started in 2008, when my partner Kristin and I decided to go to Northern Alberta to fly over the tar /
oil sands, to
see for ourselves what had up until then been hidden from plain sight.
You
see economist Peter Tertzakian say that it's not just the end of the megaprojects, but that
oil sands are yesterday's news.
Add in stolid First Nations resistance to a proposed pipeline from the tar
sands to Kitimat, and all these powerful pressures converge on the aptly named Second Narrows, which already has
seen its
oil tanker traffic rise precipitously in the past decade.
When we
see huge dump trucks on TV in the
oil sands we tend to think about all the investment and employment
oil sands production is creating.
And both wait to
see what, if any actions the federal Liberals take over an
oil sands pipeline they've championed and a coast they've vowed to protect, along with electorates in two provinces with profoundly different priorities.
... commit to a decision of where you
see the Alberta
oil sands and the future for the
sands and the exporting of bitumen
From a strictly legal perspective, the relevant question is not whether there is a sufficient connection to any particular existing or proposed
oil sands development or other production activity, and certainly not whether such projects or activities were included in the Terms of Reference (ToR), but rather simply whether the GHGs associated with the production of bitumen that will be transported by the NGP are an «environmental effect» of that project (
see NGP Report, Volume II, Appendix 4, Terms of Reference, which defines «environmental effect» very broadly to mean «any change that the project may cause in the environment.»
Having recently called out the federal government for failing to provide a justification for its decision to approve Shell's Jackpine mine
oil sands expansion project (an approach that serves no interest other than the government's, as even industry would stand to benefit from knowing why one project is justified while another, e.g. Taseko's original Prosperity mine, is not), it was reassuring to
see that at least this Joint Review Panel (JRP) shares my understanding of this obligation under the Canadian Environmental Assessment Act, 2012, SC 2012, c 19.
And even if Canadian courts ultimately deem such probing too onerous within the rubric of «reasonableness» review, such details can provide fodder for public commentary that can undermine the government's position in the court of public opinion (regarding the economic case for increased
oil sands production, for example,
see University of Alberta Professor Andrew Leach's commentary here).
Probably the most discussed aspect of the NGP Report (
see this excellent discussion on CBC's The 180 beginning at around the seven minute mark) is the JRP's treatment (or lack thereof) of «upstream» greenhouse gas emissions (GHGs), and specifically the apparent asymmetry between the JRP's decision to consider the need to open markets for projected increases in
oil production — the vast majority of which would uncontrovertibly be from the
oil sands — but not the GHGs associated with this projected growth.
It remains to be
seen, therefore, what sort of carbon price signal an individual
oil sands operation would be exposed to under the Alberta Plan and whether it will be sufficient to drive technological innovation in the sector.
Last month, the Canadian Association of Petroleum Producers organised a field trip for a group of economics professors to
see a couple of the
oil sands installations.
The Suncor
oil sands facility
seen from a helicopter near Fort McMurray, Alta., Tuesday, July 10, 2012.
As the main hub linking the
oil sands to the outside world, Fort McMurray's airport
saw 1.3 million people, many of them workers from across Canada, pass through its gates in 2014.
Takeaway: 2015 may
see earnings fall but
oil crash is likely to create great long - term buying opportunity Frac
sand suppliers such as U.S. Silica, Hi - Crush Partners, and Emerge Energy Services are unlikely to grow sales and earnings in 2015 due to the
oil crash.
The Ottoman's
saw no value in claiming
sand, and weren't much for drilling
oil I guess.
Seeing an opportunity to offset some of the emissions from its
oil -
sands development, the province of Alberta committed Can $ 2 billion (US$ 2.1 billion) to sequestration in 2008 and is now working out agreements with commercial partners on four projects.
From a climate policy perspective, the bill can be
seen as part of the Conservative ongoing effort to 1) gut environmental assessments and scientific research; 2) attack ENGOs that disagree with government policy to promote unfettered development of the
oil sands; and 3) to sideline and even eliminate inconvenient advisory bodies like the National Roundtable on Energy and the Environment.
What you do
see is a lot of
oil shale and tar
sands use.
Different mixed media painting techniques, using glue, string, card, wax, paper to manipulate and to create texture with acrylic paint Looking at famous artists like Jackson Pollock, Frank Auerbach, David Bomberg, John Hoyland and Howard Hodgkin Resources: Acrylic paint, Sponges, sticks, large and small paintbrushes, credit card, string, glue, Punchinella, kebab sticks batik wax,
sand, tissue paper, scrap paper and glue guns, Creating a number of different textures with acrylic paint and
see what other mixed media layering one can achieve with chalk and
oil pastel as well to layer over the acrylic paint.
In keeping with the themes established by Auguries of Innocence, we're asked to «
see a World in a Grain of
Sand» of which there are many on this beach, all tainted by
oil.
He said, «I don't understand» — because what I was doing was I would make a painting and then I would let it dry and then paint over the whole thing; I wouldn't
sand it down, therefore you would
see all of these passages and the layers of gesso over
oil paint, which, God knows what would happen now.
This exhibition
sees Williams engage with large scale painting and ceramic forms, incorporating gold leaf and
sand, alongside raw pigment and
oil paint, to produce affect in his experimental, and textural works.
When more energy is spent getting at the
oil than the energy you extract, you stop drilling, so I don't
see much future for tar
sands, deep sea wells, etc. once the conventional sources get too expensive.
You could argue that attacking demand is a more effective way of preventing exploitation than blocking the pipeline (though I don't
see any reason the two efforts are incompatible) but one way or another if you care about climate, you can't consider the
oil sands a «reasonable» energy source.
I've not
seen a single one mention concerns about climate change as being relevant to the future of fracking,
oil sands, etc — it's not just Fidelity.
After years of effort to try to slow demand for tar
sands oil in the U.S., campaigners are finally
seeing their arguments seriously taken up at the highest levels of the federal government.
As the refining of bitumen from tar
sands mines creates particularly dirty fuel, Valero and the other
oil companies crawling around northern Alberta aren't happy to
see California's Global Warming Solutions Act survive Proposition 23.
Two to three percent, as James Coan from the Baker Institute Energy Forum reminds us in a column for the trade publication FuelFix, is all the difference that Americans will
see in their carbon footprint if they open up pipelines, like the pending Keystone XL, to the
oil sands, instead of importing conflict
oil from the oppressive and persecuting regimes of Saudi Arabia, Venezuela and Nigeria.
Royal Dutch Shell plc announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources (Shell) that will
see Shell sell all its in - situ and undeveloped
oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP)... Read mor
oil sands interests in Canada and reduce its share in the Athabasca
Oil Sands Project (AOSP)... Read mor
Oil Sands Project (AOSP)... Read more →
The
oil sands were, for nearly a century, a national project
seen as all upside.
The pipeline spilled more than one million gallons of toxic tar
sands oil into the Kalamazoo River,
see in the photo below (click photo to enlarge).
An
oil and gas industry website, Energy in Depth,
sees it another way and maintains that the typical solution used in hydraulic fracturing is 99.51 percent water and
sand and only 0.49 percent additives.
If we all the
oil locked in the tar
sands (1.63 trillion barrels), the average global temperature would increase 0.4 degrees Celcius — half of what we've already
seen.
As we pulled up to the shore we
saw oily booms washed up on the beach and thick red
oil covering the
sand along the shoreline.
I can
see the energy independence pull on tapping into these fuel sources, but frankly any government which advocates developing
oil shale or tar
sands seriously loses its credibility in terms of its commitment to tackling climate change and on the environment more broadly.
Oil sands advocates have seen an opening, however, in Americans» perpetual nervousness over its reliance on oil imports from unfriendly and autocratic regimes, as well as a newly restive Middle East, and have increasingly argued for Canadian petroleum as an alternative to «conflict oil» tanked in from dodgier countri
Oil sands advocates have
seen an opening, however, in Americans» perpetual nervousness over its reliance on
oil imports from unfriendly and autocratic regimes, as well as a newly restive Middle East, and have increasingly argued for Canadian petroleum as an alternative to «conflict oil» tanked in from dodgier countri
oil imports from unfriendly and autocratic regimes, as well as a newly restive Middle East, and have increasingly argued for Canadian petroleum as an alternative to «conflict
oil» tanked in from dodgier countri
oil» tanked in from dodgier countries.
By deciding to boil half of Alberta to release
oil from
sand as a way to balance our exports drives us further away from the culture of innovation we
see driving growth and prosperity here.
The government and Enbridge Inc. are stepping up their game to push through what is largely
seen as an alternative to Keystone XL: the Northern Gateway pipeline project, which would carry
oil from the Alberta tar
sands to the Canadian west coast for export to China.
Exactly what a «climate leadership position» looks like for the tar
sands industry is beyond me at this point, but I am glad to
see that the
oil companies are not getting in the way of moving things forward.
But that figure is far eclipsed by the
oil sands, which will
see carbon output rise by 62 megatonnes, tripling its 2005 levels.
Van der Veer went on to claim that the «well - to - wheels» carbon footprint of Canadian tar
sand extraction — in which Shell is heavily invested,
seeing 74 % profit growth in the second quarter of this year — was only 15 % higher than conventional sources of
oil.
If approved, Kinder Morgan's proposal would
see the transport of tar
sands oil expanded from its present level of approximately 300,000 barrels per day to 890,000 barrels per day.
You can
see in the picture below the difference in brightness between the
oiled /
sanded drawer on the top and the non -
oiled / non-
sanded drawer on the bottom.
I
see a lot of homes with wood floors that contain a very orange undertone,
sanding the finish down and retaining with Woca
Oil will help update the existing flooring without replacing it!