Oil Sands Truth: Shut Down the Tar Sands

Peak Oil

Peak Oil is starting to be understood across a broad spectrum, but the direct connection between peak oil, climate change and the American market-led attempt to squeeze all energy out of Alberta cannot be overstated. The smaller the global supply of oil gets, the more CO2 has been emitted and the more climate change will have advanced. This leads to more interest in the tar sands—because the profit margin goes ever higher the fewer alternatives there are for petroleum. Without Peak Oil bearing down on humanity, no economical reason would exist to produce this energy intensive, low-output petrol.

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Peak Oil is starting to be understood across a broad spectrum, but the direct connection between peak oil, climate change and the American market-led attempt to squeeze all energy out of Alberta cannot be overstated. The smaller the global supply of oil gets, the more CO₂ has been emitted and the more climate change will have advanced. This leads to more interest in the tar sands—because the profit margin goes ever higher the fewer alternatives there are for petroleum. Without Peak Oil bearing down on humanity, no economical reason would exist to produce this energy intensive, low-output petrol.

World oil prices fall to $59

World oil prices fall to $59
Lisa Wright
Business Reporter

Oil prices fell below $60 a barrel yesterday – and gasoline prices are tumbling too – but you may want to hold off on celebrating those sweet savings at the pumps.

Economists warn of the gloomier big picture: namely, that we're far from out of the woods when it comes to the global financial crisis.

And with oil and our coveted tar sands crucial to Canada's economy and prices continuing to fall, things are likely to get much worse before they get better, they say.

Harper Pledges Cooperation With Obama on Credit, Climate, Oil

By Greg Quinn and Theophilos Argitis

Nov. 6 (Bloomberg) -- Canadian Prime Minister Stephen Harper called U.S. President-elect Barack Obama's victory this week ``historic'' and pledged to cooperate with him on issues ranging from the financial crisis to climate change.

Canadian Natural's cuts a blow to oil patch

Canadian Natural's cuts a blow to oil patch
Company scales back Horizon spending as list of stalled oil sands projects grows; 'this environment is scary'

NORVAL SCOTT

November 7, 2008

CALGARY -- The bulk of the next phase of the oil sands is effectively on hold.

Canadian Natural Resources Ltd. slashed spending yesterday on its Horizon oil sands project, its biggest development ever, because of spiralling costs and lower oil prices, joining a long list of producers that have significantly scaled back or altered their plans.

Brazil oilfield may house '100bn barrels'

Brazil oilfield may house '100bn barrels'
By Jonathan Wheatley in São Paulo
Published: November 7 2008

Brazil's newly discovered "pre-salt" oilfields may contain more than
100bn barrels, Haroldo Lima, head of the industry regulatory, said on
Friday.

Mr Lima said just the pre-salt oilfields already under concession may
contain between 50bn and 80bn barrels and that the total area could
surpass 100bn barrels.

If so, the new fields would propel Brazil up the world league table of
oil producing nations. Brazil currently has reserves of about 12.6bn

"Arctic Energy Resources Will Be Needed" - NWT Premier Roland

Arctic Energy Resources Will Be Needed
by Floyd Roland
Published November 6 2008

Canadians right now are concerned about the economy. As our largest trading partner faces the prospect of recession, businesses and individuals in Canada are worried about what that will mean for us. The outcome of the U.S. presidential election and its consequences are also on the minds of many Canadians. And the ongoing turmoil in world financial markets has reminded us just how inter-related global affairs have become.

Canada quietly adjusts to Obama's agenda

Clip from below:

And a Canadian leak that weakened the credibility of Mr. Obama's position on NAFTA in rust-belt states created a political headache, although Ms. Greenwood bets it is forgotten. She said that Canada already has a card it can play to make its interests relevant to Mr. Obama, by selling itself as the solution to a U.S. "obsession" with energy security.

Imperial profit surges on higher oil, gas prices

CALGARY, Alberta, Oct 30 (Reuters) - Imperial Oil Ltd's (IMO.TO: Quote, Profile, Research, Stock Buzz) third-quarter profit surged 70 percent as crude prices hit records before the world financial crisis led to a steep drop, Canada's largest oil producer and refiner said on Thursday.

Imperial, which is majority owned by U.S. oil major Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz), earned a company-high C$1.4 billion ($1.1 billion), or C$1.57 a share, in the quarter, up from year-earlier C$816 million, or 88 Canadian cents a share.

World will struggle to meet oil demand

by Carola Hoyos and Javier Blas in London

Financial Times FT.com (October 28 2008)

Output from the world's oilfields is declining faster than previously
thought, the first authoritative public study of the biggest fields shows.

Without extra investment to raise production, the natural annual rate of
output decline is 9.1 per cent, the International Energy Agency says in
its annual report, the World Energy Outlook, a draft of which has been
obtained by the Financial Times.

The findings suggest the world will struggle to produce enough oil to

World is facing a natural resources crisis worse than financial crunch

The Guardian October 29, 2008

Biocapacity

World is facing a natural resources crisis worse than financial crunch

Two planets need by 2030 at this rate, warns report
Humans using 30% more resources than sustainable

Juliette Jowit

The world is heading for an "ecological credit crunch" far worse than
the current financial crisis because humans are over-using the natural
resources of the planet, an international study warns today.

The Living Planet report calculates that humans are using 30% more

CBI Partner Nexen Pats Self on the Back with Greenwash Paint

Keep in mind: Nexen waste burning "co-generation" will create up to EIGHT TIMES the C02 and other greenhouse gas emissions footprint of a regular pump jack.

--M

Long Lake partners praised for efforts
Calgary Herald
October 26, 2008

All but 10 per cent of the water is to be recycled. The project will have ponds, but not giant tailings ponds like those at mining projects such as Syncrude Canada, Suncor Energy and Shell's Athabasca Oil Sands Project.