Prices spark oil-sands heyday

Houston Chronicle, Wash Post ^ | 6/18/05 | Justin Blum

[Dane]

Prices spark oil-sands heyday City a microcosm of industry changes caused by market, new technology By JUSTIN BLUM Washington Post

FORT MCMURRAY, ALBERTA - Along Highway 63 here the rolling hills give way to massive open pits, huge waste ponds and tangles of pipes and refining equipment that spew smoke into the air.

In the pits, shovel trucks load dirt into dump trucks so gigantic that a driver has to climb a ladder attached to the front grille to get behind the steering wheel.

The changing landscape reflects an ambitious quest to develop a new source of oil.

[Dane]

.

[A.B.Normal]

Years ago I invested in a corp that was developing the Athabasca Tar Sands for oil. It blew apart. The corp was OTC - Toronto and that market is REAL risky!

One economic pundit stated that the price of oil is not high by historical standards - when adjusted for inflation, the price has to exceed $90 a bbl to be at an all time high. The real culprit is that the US has not built a refinery since 1976! There is no oil shortage, it is a refinery shortage - Just My Opinion.

[Fred Nerks]

thanks for posting good news!

[Vn_survivor_67-68]

"....the rolling hills give way to massive open pits, huge waste ponds and tangles of pipes and refining equipment that spew smoke into the air."

OMG, where are the bedwetter environmentalists?

Drilling and producing at ANWR won't make even this much of a mess, LOL

[norraad]

Bedwetters have become bedsitters.

They sure are silent on this mess.

Almost as silent as all the investors who get soaked as well.

[BlazingArizona]

The real culprit is that the US has not built a refinery since 1976!

That, and the itsy-bitsy little matter of a billion Chinese and a billion Indians burning oil at an unprecedented rate.

[backhoe]

 Alberta is about to get wildly rich and powerful [ 1 ... 7, 8, 9 ]

 It's time for a Alberta Declaration of Independence [ 1 ... 4, 5, 6 ]

[A.B.Normal]

Yes, you are correct.If the US built refineries and stopped listening to the alleged environmentalists on Answar, we be OK

The orientals are near an over capacity on supply. If they collapse, then the dollar will go up and oil down.

[StolarStorm]

Maybe you can help me understand the seeming paradox here.

There is a refinery shortage causing a bottleneck, yet raw crude prices are skyrocketing.

It just seems to me that if you have a bottleneck that is reducing the ability to refine crude, that there would be less demand for raw crude than if there was no refining bottleneck. Thus logically raw crude should be dropping in price while gasoline prices should be increasing.

[A.B.Normal]

The production is inadequate for the entire world and the A-rabs will increase production. We only get about 5% of our oil from the Near East, the rest s Venezuela, Mexico and Canada. Right now we are trading oil for illegals with Fox. JMO