It is falsely assumed that big projects equal lots of jobs and, by extension, labour peace if not outright satisfaction. The size and scope of the tarsands means for incredibly dangerous work conditions-- some fatalities at the plants have already occurred. The products seldom get their "value added" in union-run locations, instead the heavy bitumen can be shipped to many different locations across North America for refining, denying benefits to the union. However, the Union does not represent the "guest worker", now being imported in increasing numbers as legislation is changed to make access easier, the term of exploitation last longer, without any new efforts or pathways to deciding to stay after helping tear up the earth.
Shell moves to slow Canadian oil sands project
Thu Nov 27, 2008 12:57pm EST
CALGARY, Alberta (Reuters) - Royal Dutch Shell Plc (RDSa.L: Quote) is delaying another Canadian oil sands project, saying on Thursday it has withdrawn a regulatory application for its 100,000 barrel per day Carmon Creek thermal project as it looks to shave costs by revamping the project.
Harper asks Obama to ignore oilsand devestation
But can we blame him?
Jackie Grom // Dec 1, 2008
Science and Technology Writer
Risk-free pipeline projects make sense
Deborah Yedlin, Calgary Herald
Published: Tuesday, November 25, 2008
In the midst of the market mayhem, something surprising happened last week; two Calgary-based pipeline companies raised almost $2 billion from the debt and equity markets.
First out of the blocks was TransCanada Pipelines, tapping the public equity markets for a total take of $1 billion priced at $33 per share. The shares closed Monday at $32.22, up 27 cents.
Company may delay McKay River project
2008-11-25
By KRISTINE OWRAM, THE CANADIAN PRESS
TORONTO -- Petro-Canada CEO Ron Brenneman says the company is considering a delay of its McKay River oilsands expansion and a $1-billion equipment improvement at its Montreal refinery to reduce costs.
Brenneman, speaking to media ahead of the company's investor day, said the McKay River expansion in northern Alberta, as well as its Montreal coker, haven't yet received regulatory and corporate approvals.
Tue, November 25, 2008
Oilsands surviving downturn
Projects benefit as economic crisis makes contractors and suppliers hungrier for work
By MARKUS ERMISCH, SUN MEDIA
While delays of several oilsands projects have again raised the question whether it is cheaper to upgrade bitumen in the U.S. rather than in Alberta, the sagging loonie, easing inflation and lower demand for labour could be working in the oilpatch's favour.
Could jittery sponsors drop the torch?
Globe and Mail, November 18, 2008
ROD MICKLEBURGH // VANCOUVER
— Are economic vultures beginning to hover over the 2010 Winter
Olympics? Or is it business as usual despite concerns that many parts
of the world, including North America, are slipping into recession?
The questions are pertinent because more than half of the Games'
$1.63-billion operating budget is to be covered by corporate
sponsorships, and at least two key 2010 sponsors, Nortel and GM Canada,
are having an exceedingly tough time making any kind of ends meet.
Obama no threat to oil sands: Canadian Natural Resources
Carrie Tait, Financial Post
November 11, 2008
CALGARY -- Canadian Natural Resources Ltd. does not expect US president-elect Barack Obama to implement policies that would crush Alberta's oil sands industry, even though he made anti-oil promises on the campaign trail.
Réal Cusson, senior vice-president of marketing, made the assertion while explaining that it is cheaper for oil sands companies to ship their bitumen to refineries on the U.S. Gulf Coast for processing than it would be to build new upgraders in Alberta.
Petro Canada is the "official energy supplier" to the Olympics. Perhaps that could shelve that disastrous project as well?
--M
Petrocan syndicate puts Fort Hills on ice
Consortium shelves oil sands project, citing global financial turmoil, lower oil prices and high financing costs
NORVAL SCOTT
November 18, 2008
CALGARY -- The Fort Hills oil sands project was going to turn Petro-Canada into a contender.
Its 140,000 barrels a day of new crude output would end years of underperformance. No longer would Petrocan's share price lag those of its peers.
by John Michael Greer
The Archdruid Report (November 12 2008)
Druid perspectives on nature, culture, and the future of industrial society
The weekend before the election, as I mentioned in last week's post
here, I went to Michigan to attend a peak oil conference: the Fifth
Annual Conference on Peak Oil and Community Solutions, to give it its
full moniker. In more ways than one, it provided me with a wide-angle
snapshot of one end of the peak oil movement; since the peak oil story
is as much about human responses to geological realities as it is about
Oil Slow Down Will Not Stop TransCanada
Gas prices dropped another nickel in Sioux Falls Wednesday as the price for a barrel of oil fell to 56 dollars. While the falling oil prices are good news for drivers, its not so good news for oil producers in Canada. Canadian crude is more costly to produce than regular oil, so when the price goes down so do profits.
Because Canadian crude is so costly to produce the falling oil prices are slowing production in northern Alberta.
And that's why both TransCanada and Hyperion are keeping their eyes on the oil industry north of the border.
