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.
Petro-Canada Cuts 200 Jobs From Oil-Sands Unit On Proj Delay
* APRIL 15, 2009
OTTAWA (Dow Jones)--Petro-Canada (PCZ) is cutting some 200 jobs in its oil-sands unit as its Fort Hills project remains stalled amid weakened oil prices and the stuttering economy.
The layoffs, which will affect nearly a third of the department's employees, are "absolutely not at all connected" to the merger with Suncor Energy Inc. (SU) announced last month, said Petro-Canada spokeswoman Kelli Stevens.
United Steelworkers Challenges TransCanada Keystone Pipeline Permit for Safety
PITTSBURGH, PA UNITED STATES
Joins Sierra Club filing on leak risk of under-standard thin-wall pipe
PITTSBURGH, April 9 /PRNewswire-USNewswire/ -- The United Steelworkers (USW) announced it has challenged the pending federal permit in the controversial $5.4 billion TransCanada Keystone Pipeline that's using under-standard thin-wall pipe for transport of crude oil from Alberta, Canada to Houston, Tex.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/DC12982LOGO)
Enbridge analyzed
By Rebecca Billard - Burns Lake Lakes District News
April 07, 2009 11:00 PM
The Hill Times, April 13, 2009
Carbon capture and storage 'being oversold as a panacea'
But critics and experts say there are geological risks, it's a waste of taxpayers' money and the 'economics are deadly.'
By Bea Vongdouangchanh
Promise To Protect The Great Bear Rainforest A Cruel Joke.
Where Is The Outrage?
China buys more of oil sands; Now owns 50% of proposed mine
By Claudia Cattaneo, Financial Post
April 2, 2009
The purchase of an additional 10% interest in the proposed Northern Lights oil sands project Wednesday by China Petroleum & Chemical Corp. (Sinopec) points to a renewal of interest by the Chinese in Canada's oil, said a University of Alberta expert.
If Suncor sells foreign assets, will China buy?
DAVID EBNER
April 8, 2009
Suncor Energy Inc. SU-T will likely create a "fortress North America" if it completes its $19-billion merger with Petro-Canada, jettisoning international assets to hungry buyers such as China as it focuses on the oil sands, natural gas and East Coast offshore oil.
Shell affirms "too uncertain" outlook for oil industry
Wednesday, March 18, 2009
* Links Niger delta crisis, falling oil prices to low output
By Taiwo Hassan, with Agency Reports
CITING falling oil prices and crisis in Nigeria's Niger delta region, Anglo Dutch oil giant, Shell, has conceded that the industry's outlook has become "too uncertain" for long term projections.
CN plans 'pipeline on rail' to oil sands
Diane Francis, Financial Post
Wednesday, April 08, 2009
CN could gear up its capacity to ship by rail up to four million barrels a day of oil at less cost and more quickly, bypassing the need to finance huge pipelines.Courtesy of CNCN could gear up its capacity to ship by rail up to four million barrels a day of oil at less cost and more quickly, bypassing the need to finance huge pipelines.
Total: May Delay Joslyn Oil Sands Proj Decision To Cut Costs
* APRIL 6, 2009, 1:17 P.M. ET
OTTAWA (Dow Jones)--Total SA (TOT) may delay its investment decision for the proposed C$9 billion Joslyn oil sands mine in northern Alberta by a few months as it looks to cut project costs, the company said Monday.
The French oil major holds a 74% interest in the oft-stalled development and had previously intended to make a go-ahead decision in early 2010.
