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.
Apparently buying out Petro Can wasn't enough...!
--M
Suncor Posts Second Straight Loss After Oil Plunges
04/ 23/ 2009
By Gene Laverty
April 23 (Bloomberg) -- Suncor Energy Inc., the oil-sands producer that agreed last month to buy Petro-Canada, posted a second straight quarterly loss after the global recession dragged down crude prices.
Kitimat project worth $1 billion to First Nations
Scott Simpson,
Canwest News Service
Victoria Times Colonist
April 30, 2009
Some First Nations stand to gain more than $1 billion in profits, taxes
and business opportunities from a proposed liquid natural gas project in
northern British Columbia, Canwest News Service has learned.
Proponents of a $4-billion project that includes a 463-kilometre gas
pipeline and a liquefied natural gas plant at Kitimat are still ironing
out final details of a landmark agreement among aboriginal groups,
EDMONTON — The Alberta government announced Tuesday that 53 charges have
been laid in the deaths of two foreign workers at an oilsands site two years
ago.
Canadian Natural Resources Ltd., Sinopec Shanghai Engineering Company Ltd.,
and SSEC Canada Ltd., have been charged under the Occupational Health and
Safety Act.
A breakdown of the charges was not immediately available.
Alberta Employment Minister Hector Goudreau said the charges signal to the
world that Alberta's oilsands remain a safe place to work.
Meeting set in Lindsay on pipeline project
Published on Tuesday, April 21, 2009.
By The Gazette Staff
Property owners and others along the proposed Keystone XL Pipeline are invited to hear from experts on landowner alliances and pipeline safety Sunday at 6 p.m. at the Lindsay Community Hall in Lindsay.
Lindsay is halfway between Glendive and Circle on Montana 200.
Do you know where your oil comes from?
Canadians most certainly do. But it's not a pretty sight.
April 16, 2009
By Sandro Contenta
TORONTO — When President Barack Obama vowed this week to reverse U.S. dependence on "foreign oil," did he also mean Canada's? It's a question Americans might want to consider.
Council approves call to halt tar sands
Cara Loverock
Northern News Services
Published Friday, April 17, 2009
SOMBA K'E/YELLOWKNIFE - A motion to stop new tar sands approvals in Alberta until certain measures are put in place was passed on Tuesday.
Nexen, Opti Canada may be targeted in oil sands deals
By Joe Carroll, Bloomberg
April 3, 2009
Nexen Inc. and Opti Canada Inc. may be among Canadian oil companies targeted for takeovers as a price collapse triggers a rush by larger producers to amass holdings in the biggest crude deposits outside Saudi Arabia.
Despite the continuation of the little side show designed to make us believe that this pipeline is set to go to "markets in the lower 48", there is still both the maps of where the gas is to go (the Alberta Grid) and the basic math which tells us that the pipeline is *needed* in order to get to the production targets for the tar sands of Alberta-- over 5 million barrels a day of tar sands bitumen/ mock oil.
--M
Pipeline competitors update legislators about progress
GAS: Transcanada says it has expertise; Denali sees concerns with partnership.
Petroleum News
April 15th, 2009
BP 'still committed' to Sunrise: chairman
Claudia Cattaneo, Financial Post
Thursday, April 16, 2009
CALGARY -- BP PLC is considering a range of options to move forward the Sunrise oil sands project with partner Husky Energy Inc., including integrating carbon capture and storage to mitigate the environmental impact, chairman Peter Sutherland told the annual meeting of shareholders in London on Thursday.
Big-league players step up for oil sands
U.S. lobbying
By Claudia Cattaneo, Financial Post
March 11, 2009
As Alberta's oil sands industry struggles with depressed oil prices and opposition from the environmental movement, a new front is emerging to support it -- in Washington.
