Stable supply is more important than low price IMO. Besides, the cost of extracting the Alberta oil will go down as the extraction technology improves.
I was talking to a Canadian engineer who was in Tokyo trying to line up Japanese expertise and investors and he was getting a lot of attention from some powerful companies here.
Not likely. The Saudis are on the take, and it will be their last hurrah. At $90.00 a barrel, my Aunt Harriet is wringing oil out of her petunias.
Alberta oil sands in here to stay. Even the most conservative investment cousellors in Canada are advising their investors to buy now. There are two companies involved.
That has the Saudis all cranked.
Too bad. They have competition OUTSIDE of OPEC.
And whats more: " Screw you Chavez!"
“Stable supply is more important than low price IMO.”
Don’t forget to factor in transportation and security costs. Extracting oil from unstable hellholes and bringing it to market costs money. Of course, having our energy source next door in a secure, English-speaking area will be worth whatever we pay at the pump.
From what I remember it is right across the line in USA but our ENVIROMENTALISTS just wont allow it. We also of course have oil in Alaska, along the east coast along the west coast and some inland but I don’t remember where.
We all know we would destroy the beaches of Fl. and Ca. if we drilled in either ocean.
Of course the Chinese drilling 90 miles off Florida’s coast for Cuba will make certain we will never have any problem with the oil they are retrieving.
I sometimes think that in a few short years, if China does succeed, after a big hurricane and a big break in the oil lines, I wonder where that oil will end up. Most likely from prevailing winds etc it will be all up and down the eastern seaboard. It will serve USA right.
The Japanese have oil sands?
You beat me to it. The more we produce from oil sands, the more we will find ways to reduce the costs of doing so. The important thing is to get started.
Sand oil from CA is nice, but I want to see them tapping the shale oil out west in the US... we sit on one of the largest oil reserve known to man, its right here in the US, but its not been tapped.