Not exact matches
So, using their numbers above, for each barrel shipped on KXL, you'd have somewhere between 0.08 and 0.78 barrels of increase in
total consumption, with between 0.22 and 0.92 barrels of
oil which would have been produced elsewhere being substituted - for by
oil sands production.
Total oil production, including «unconventional» sources such as tar
sands and shale
oil, soon started to grow again.
In contrast, we had nice returns in a number of our media, insurance and food stocks, among others, including Axel Springer, Schibsted, Zurich Insurance, Berkshire Hathaway, and Nestlé, but it was unfortunately not enough to overcome the continued pressure on our
oil & gas stocks, which included fully integrated holdings such as
Total and Royal Dutch; exploration and
production companies such as Devon Energy and Pacific Rubiales; Canadian
oil sands producers such as Cenovus; and energy service holdings such as Halliburton and National Oilwell Varco.
Of course, neither of the above assumptions are likely to be true, since global
oil supply and demand elasticity are not zero — alternative sources (some cleaner, some not) will replace some
oil not produced if you could prevent
oil sands production, and some reduction will occur in
total global
oil demand.
Anecdotes only: as in a recent quote from a French
oil executive.AFP's story, Canada's tar
sands are the future of
oil production:
Total is the source of this particular quote.
(For example,
total Canadian
oil sands production reached about 2.3 million barrels per day in 2014, according to the Alberta Energy Regulator.)
«The CO2 numbers [in the
oil sands] sound frightening when only the
production and refining are taken into account... Yet once the
oil is burned, a variety of sources say the
total lifecycle impact of
oil sands relative to the average crude used in the U.S. is much smaller, including the Council on Foreign Relations (17 percent higher emissions) and Cambridge Energy Research Associates (5 - 15 percent).»
Standardized values (Z scores) of (A) visible reflectance spectroscopy (VRS) chlorophyll a inferences from the five lakes proximate to major
oil sands operations as indicators of lake primary
production; (B)
total PAH concentrations and (C)
total DBT concentrations from all six study sites.
Current
oil sands production, representing about half of western Canada's
total crude
oil production, is expected to grow from roughly 1.1 million bpd in 2006 to approximately 3.4 million bpd in 2015 and to about 4.4 million bpd in 2020 in the Pipeline Planning Case.