Economics drive tar sands operations. Record highs in oil prices, though still fluctuating, will make tar sand oil ‘economical’ (read: profitable) well into the future. Government subsidies to this environmentally disastrous process remain in place from a time when the federal government was sponsoring research into the possibility of recovering this oil. Stock prices of tar sands developers grow the more conventional oil is scarce.
Canada: Oil and Immigration
13/11/2008 by Gareth McConnell
It’s worth $1.5 trillion, is the largest in North America and for Canada and the world a potential source of petroleum energy and work in Canada for the next one hundred years.
Canada’s oil sands, situated in north-eastern Alberta in an area larger than the state of Florida and is about to become a major avenue to explore for migrants workers wishing to move to Canada.
TransCanada to issue shares to raise money to pay down debt
Argus Leader
November 24, 2008
TransCanada has announced that it will issue 30.5 million shares of common stock to raise about 41 billion Canadian, or $809 million America, to pay down short-term debt and fund its Keystone Pipeline projects.
TransCanada entered into an agreement with a syndicate of underwriters to buy shares from the company at $33 Canadian and sell them to the public in Canada and the U.S.
15 undocumented workers arrested in BP raid
December 10, 2008
By Andy Grimm Post-Tribune staff writer
WHITING - Immigration authorities arrested 15 janitorial workers in an early morning raid at the BP plant.
The raid came after at two-year investigation of United Building Maintenance, a Carol Stream, Ill.,-based cleaning company that had been hired by BP. The cleaning crews had access to sensitive areas of the refinery, said Gary Hartwig, special agent-in-charge of the Immigration and Customs Enforcement's Office of Investigations in Chicago.
Alberta rethinks film funding rules after anti-oilsands doc gets cash
Thursday, December 11, 2008
CBC News
A documentary that takes a critical look at the oilsands is raising a big stink at the Alberta legislature.
It turns out that Downstream, by U.S. documentary maker Leslie Iwerks, was funded in part by the provincial government.
That's prompted the government to take a closer look at how films get funded in Alberta.
Tar Sands: The worst fuel on the planet?
A Reporter's Notebook: "Midwest oil mining a crude idea to many: Are we now scraping the bottom of the barrel?"
Photo from chicagotribune.com. Taken by Jiri Rezac / WWF UK.
As Minnesota sanctions the transport and use of oil sands--the second largest reserve of usable crude in the world--it takes a prominent role in a transcontinental controversy.
Many argue our state is on the wrong side.
From dead birds to sick humans and fish, hardly anyone has anything positive to say about the new carbon intensive fuel polluting our air and water.
David Suzuki: Tar sand wealth comes with environmental costs
By David Suzuki and Faisal Moola
If you want to be scared, you don’t need to watch a horror movie or read the latest Stephen King bestseller.
Real terror can be found by simply firing up Google Earth, the computer program that allows users to look at satellite pictures of any place on the planet. By mousing over and zooming in, you can see what Alberta’s tar sands look like from space.
It is not a pretty sight. In fact, it’s scary—and for good reason.
StatoilHydro scraps C$16 bln oil sands upgrader
Thu Dec 4, 2008 2:21pm EST
(Recasts with additional comment and detail, changes dateline from OSLO)
CALGARY, Alberta, Dec 4 (Reuters) - Norway's StatoilHydro (STL.OL: Quote, Profile, Research, Stock Buzz) said on Thursday it scrapped plans to build a C$16 billion ($12.6 billion) upgrader for its Canadian oil sands holdings, the latest in a string of big-ticket cancellations in the oil-rich but expensive region.
Alberta to seek tax breaks for oil sands
Capital writeoffs for bitumen upgraders on wish list for struggling sector, as finance ministers prepare to meet
SHAWN MCCARTHY
Globe and Mail // December 8, 2008
OTTAWA — The Alberta government is seeking federal tax breaks for the newly struggling oil sands sector, including accelerated capital writeoffs for upgraders, as sliding oil prices and high costs have caused companies to delay or shelve development plans.
Ottawa promises to protect oilsands from economic crisis
Mike De Souza, Canwest News Service
Published: Friday, December 05, 2008
OTTAWA - The Harper government pledged to protect the oilsands sector from economic uncertainty as it challenged opposition parties on Friday to explain how their proposed coalition would regulate pollution from the western Canadian industry.
More time granted to comment on pipeline
Groups petitioned U.S. State Department on behalf of farmers, ranchers
Thom Gabrukiewicz • tgabrukiew@argusleader.com • December 6, 2008
People will have much more time to comment on the application for a presidential permit required to build TransCanada's proposed Keystone XL pipeline.
