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.
http://www.canada.com/edmontonjournal/news/story.html?id=a0fadc90-c1fb-4...
China to expand oilsands presence
July 20, 2007
SHANGHAI (Bloomberg) - China National Petroleum Corp., the nation's largest oil producer, plans to expand its cooperation with Canadian partners on oil sands projects, refuting a company official's comment that it will slow down investment.
Concerns raised at pipeline forum
http://www.sewardindependent.com/c21193.html
Paul Fischer
Seward County residents had another opportunity on July 16 to hear discussion on the TransCanada Keystone Pipeline Project at a pipeline safety forum held at the Seward Civic Center.
The forum, hosted by the GFWC Seward Women's Club, Seward League of Women Voters and Seward Citizens on Pipeline Route Committee, consisted of several speakers-each given the floor for 18 minutes-followed by a question-and-answer period.
Imperial, ExxonMobil to explore Beaufort Sea for oil, gas
Last Updated: Thursday, July 19, 2007 | 5:48 PM CT
CBC News
http://www.cbc.ca/canada/north/story/2007/07/19/nwt-imperial.html
Imperial Oil Ltd. and sister company ExxonMobil Canada have acquired an exploration licence from the federal government to look for oil and gas in a parcel of the Beaufort Sea, the two companies announced Thursday.
Strike threat looms over booming oilsands
http://www.businessedge.ca/article.cfm/newsID/15812.cfm
By The Canadian Press - For Business Edge
Published: 07/13/2007
The looming threat of Alberta's first trades strike in 25 years could slow construction in the booming oilsands, ultimately harming the province's reputation as a reliable investment climate, observers say.
Sign of the times
Airlines report heavy travel from Newfoundland to Alberta
http://www.thetelegram.com/index.cfm?sid=45096&sc=79 [St John's Nfld]
PETER WALSH
The Telegram
Canada’s major airlines are reporting brisk business this summer on flights from Newfoundland to Alberta.
WestJet added the province’s only non-stop flight from St. John’s to Calgary this summer.
Rival Air Canada says its Newfoundland to Alberta services introduced in 2006 are “popular” again this year. Neither airline would release specific numbers, but both say business on the routes is going well.
Canada, China: A Pipeline to Oil Sands Expertise
July 16, 2007 19 03 GMT
http://www.stratfor.com/products/premium/read_article.php?id=292359
Summary
PetroChina announced July 12 that it is quitting a pipeline project that would transport oil derived from Alberta's oil sands to British Columbia. China never intended to build the pipeline, since what it really sought was the know-how Canadian oil sand producers have acquired over the years.
Analysis
A great article and summation, though I believe that author Swanson is a tad too optimistic to suggest that the project looks dead. The plans for moving heavy bitumen [et al] to other markets-- with the US most likely demanding to be the first ones considered-- must happen in phases, because the recoverability/daily oil-producing capacity cannot be tripled overnight.
This article is a great glimpse, yet it seems to tell us that certain market players throughout the US are less able to predict the future of oil recoverability and capacity than the rest of the population. The line: "The industry is also gambling that oil prices will stay high. If they collapse, expensive oil-sands projects may not pay off." is the needed throw-in to make people not embrace the Peak Oil reality we are already at the start of.
A clip from the entire article below:
"Mr. Stelmach said the province's decision to sign a special immigration deal with Ottawa earlier this year is part of that strategy. The agreement is expected to make it easier and faster for immigrants to settle in the province by cutting red tape. It will also give the province more control over selecting skilled immigrants."
Approximately only a month ago the first new refinery in decades was announced to be under construction in the lower 48 states. This is not to be the last, as the absolutely unparalleled growth of the tarsands is leaving bottle neck-like conditions for transporting the sludge-then-crude-then petrol through the refining processes across Turtle Island. Husky will no doubt go along with some of the foreseen upgrading of facilities, rather than worry about an entirely new refinery. It's all a part of the largest project in history.
--M
Husky on the prowl for refining capacity
