Oil Sands Truth: Shut Down the Tar Sands

Energy

Energy and how it is captured and consumed is barely viable in tar sands production. While the amount of oil in places such as the tar sands in Alberta or the Orinoco Belt in Venezuela may have deposits of similar size to the reserves of countries such as Saudi Arabia or Iraq, the return of new energy after expending energy in production is not even close. In Iraq, the process of using one barrel of oil generates 100 new barrels. In the tar sands, estimates of 3 to 1 and even as low as 1.5 to 1 have been made. Offsetting the net energy loss would require minimally 25-30 tar sands facilities for one Saudi plant operating at the same capacity.

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Alberta hopes to reap benefits as world focuses on Suncor-Petrocan

Alberta hopes to reap benefits as world focuses on Suncor-Petrocan
By Carrie Tait, Financial Post
May 30, 2009

Canadian energy group cuts output forecast again

Canadian energy group cuts output forecast again
Fri Jun 5, 2009 2:37pm EDT

CALGARY, Alberta (Reuters) - Canada's main energy producers group has cut its forecast for oil sands production for the third time in a year, blaming project deferrals and cancellations due to weak oil prices and tight credit markets.

The Canadian Association of Petroleum Producers said it expects oil sands production by 2015 of as much as 2.2 million barrels a day, and as little as 1.9 million if only those projects that are now in operation or under construction go ahead.

Suncor's boldest move yet

Suncor's boldest move yet
Claudia Cattaneo, Calgary Bureau Chief, Financial Post
Friday, May 29, 2009

Taking quantum leaps has been the hallmark of Suncor Energy Inc. under the leadership of Richard George.

But Suncor's boldest move yet -- the $19.2-billion takeover of Petro-Canada -- may be approved next week, when shareholders vote on Mr. George's plan to form one of Canada's largest companies and the dominant player in the oil business.

Canada not yet ready for China

Canada not yet ready for China
Claudia Cattaneo, Financial Post
Published: Wednesday, June 03, 2009

China and Canada have talked about developing a mutually beneficial energy relationship for a long time. Yet China seems to have made significant oil and gas investments everywhere but Canada, while Canada seems to have seen an influx of significant foreign investment in energy from everywhere but China in recent years.

Oil sands ‘back in black,' crude nears $70

Oil sands ‘back in black,' crude nears $70
Nathan VanderKlippe
Calgary — Globe and Mail Update, Wednesday,
Jun. 03, 2009

Surging oil prices and tumbling construction costs have pulled Alberta's stalled oil sands across a major threshold to future profitability, creating new expectations that a comeback may not be as far away as once feared.

Declines in the cost of steel and labour have combined with crude prices that yesterday neared $70 to bring the oil sands “back in black,” said UBS Securities analyst Andrew Potter.

Corporate PR about the "benefits" of global warming

Study: Melting Arctic Likely Holds up to 160 Billion Barrels of Oil
Michael Andrews - June 1, 2009

New study shows yet another potential benefit of a warmer planet [sic]

The US Geological Survey Says massive amounts of undiscovered oil, gas in Arctic

USGS CARA Concludes 13% of Worlds Undiscovered Oil, 30% of Undiscovered Gas in the Arctic
Caraoil

The US Geological Survey (USGS) has completed a geologically-based assessment of the oil and gas resource potential of the Arctic, the Circum-Arctic Resource Appraisal (CARA). (Earlier post.) The researchers in the effort concluded that about 13% of the world’s undiscovered oil and 30% of the world’s undiscovered gas may be found there, mostly offshore under less than 500 meters of water. A paper on the work was published in the 29 May issue of the journal Science.

Alberta Establishes Working Relationship with OPEC

ALBERTA IN TIE-UP WITH OPEC
Province will get voice in energy discussions
Claudia Cattaneo, Financial Post
Published: Monday, May 25, 2009
Chris Schwarz, Canwest News Service

For the first time, Alberta and the Organization of Petroleum Exporting Countries have established an official relationship. It's a new strategy with big implications, including potential investment by OPEC members in Canada's oil sands.

Should green-minded Norway invest in Canadian tar-sands?

Should green-minded Norway invest in Canadian oil-sands?

Last week, Greenpeace failed in its bid to force Norway's StatoilHydro to abandon a $2 billion investment in a project that it says produces 10 times the greenhouse gases as North Sea drilling.

By Tom Sullivan | Contributor to The Christian Science Monitor
from the May 27, 2009

Stockholm, Sweden - It came as little surprise when Norway's partially state-owned oil company, StatoilHydro, rejected a shareholder motion last week to pull out of a $2 billion tar-sands venture in Alberta, Canada.

"N.W.T. fears pipeline guarantee for Alaska"

N.W.T. fears pipeline guarantee for Alaska
By Jeffrey Jones, Reuters
May 25, 2009

CALGARY - The Northwest Territories is worried a little-noticed plan to boost U.S. federal loan guarantees for an Alaska gas pipeline to $30 billion US could raise yet another impediment to the construction of the Mackenzie Valley pipeline.