Posted on 11/14/2007 6:23:22 PM PST by Dane
We import 19% of the US imported crude oil from Canada, more than from any other country.
U.S. Crude Oil Imports by Country of Origin
http://tonto.eia.doe.gov/dnav/pet/pet_move_impcus_a2_nus_epc0_im0_mbblpd_m.htm
Production from Alberta oil sands now exceeds conventional oil production from Western Canada, and is expected to make up over 65% of total production by 2010.
CANADIAN OIL SANDS SUMMIT
http://www.insightinfo.com/index.cfm?ci_id=25058&la_id=1
There are $150 Billion in new projects are various stages ongoing.
Inventory of Major Alberta Projects
http://www.alberta-canada.com/statpub/albertaConstructionProjects/mpindex.cfm
Scroll down, select "Oilsands" and click "Submit"
Thanks for the info. $150B surprised me and it seems like a lot, considering there is already over 1M barrels per day in production and as of 2006 the projects planned will only bring that to 1.7M over the next decade.
At 1M barrels per day and current oil prices yielding $60/barrel profit, that is $22B/yr profit. Is the $150B additional investment supposed to yield more than the additional 700K barrels per day reported in 2006 ?
About $100 is the mark on the wall, where the House of Saud becomes irrelevent.
Notice oil is NOT $100.
$150B (Canadian, not that there is much difference today) is a lot. That is projects in construction now and in different stages of design and permitting going out for the next decade.
From: Oil Sands Resources, Production and Projects
http://www.capp.ca/default.asp?V_DOC_ID=1162
Canadian Association of Petroleum Producers
Oil sands now account for 39 per cent of Canadas total oil production at approximately one million barrels per day. By 2020, production will grow to four million barrels per day.
Total Canadian production is projected to increase from the current 2.5 million barrels per day to reach 4.9 million barrels per day (b/d) by 2020.
Wow ! That is a huge jump since the 2006 report I read. From a new total of 1.7M by 2016 to 4M by 2020 !
If you are buying gas in WA state from Conoco Phillips About 1/2 is from Alberta ol sands.
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