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Keyword: oilsands

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  • Trudeau says the Canadian oil sands needs to be 'phased out'

    01/13/2017 8:45:04 PM PST · by Olog-hai · 34 replies
    Associated Press ^ | Jan 13, 2017 10:41 PM EST | Rob Gillies
    Canadian Prime Minister Justin Trudeau sparked anger in the oil-rich province of Alberta on Friday for saying Canada needs to phase out the oil sands. Trudeau told a town-hall meeting in Peterborough, Ontario that they can’t shut down the oil sands tomorrow, but they need to phase it out eventually. […] Trudeau’s comments caused outrage on social media and criticism from Alberta politicians. Premier Rachel Notley said the oil sands are not going anywhere any time soon. Alberta opposition leader Brian Jean said the oil and gas industry provides thousands of good-paying jobs and if Trudeau wants to shut it...
  • Geology Picture of the Week, April 30-May 7, 2005: Frigid Sand Dunes

    05/01/2006 12:47:20 PM PDT · by cogitator · 5 replies · 588+ views
    This started as a question to myself: "I wonder if there are sand dunes in northern climates?" Googling on "sand dunes" + Canada revealed another heretofore unknown (at least to me) geological location -- Athabasca Sand Dunes in Saskatchewan. I've heard of Athabasca before in association with tar sands, but this is a the first time I'd heard of a provincial Athabasca Sand Dunes Park. The Web site says that is only accessible by air. So I'm guessing not a lot of people have been there or visit there. Since this is very new to me and perhaps others, first...
  • Norway's Statoil exits oil sands projects in Canada

    12/15/2016 9:53:31 PM PST · by Olog-hai · 9 replies
    TheLocal.no ^ | 15 December 2016 11:17 CET+01:00 | AFP
    Norwegian oil giant Statoil said Thursday it was exiting its oil sands projects in Canada, booking a loss, in a move hailed by environmental activists. The group said it had reached an agreement to sell its 100-percent stake in the Kai Kos Dehseh (KKD) oil sands projects in the province of Alberta, to the Athabasca Oil Corporation of Canada for CAD$832 million (5.4 billion kroner, $626 million, €597 million). Following the divestment, Statoil will not operate any oil sands projects, a business area the deepwater oil specialist had moved into to great dismay of analysts. Statoil will take a loss...
  • DiCaprio’s New Film Portrays Canada’s Oil Sands As “Terryfying”

    10/31/2016 9:01:14 AM PDT · by bananaman22 · 39 replies
    Oilprice.com ^ | 31-10-2017 | Miner
    Nearly six months after massive wildfires close to Canada’s oil sands forced one of the largest evacuations in the country’s history, affecting production, Leonardo DiCaprio’s new climate-change documentary threatens to bring unwanted, negative attention to the industry. Critics are already referring to the scenes shown in the film, particularly an aerial of the oil sands, as “terrifying”. Fisher Stevens, director of Before The Flood, which has been in the works since 2014, recently told Canadian Press he was "really horrified" by how the landscape looked in north-eastern Alberta.
  • “Hot Lesbian” Ad Gets Canadian Oil Sands More Publicity Than It Deserves

    08/02/2016 10:05:26 AM PDT · by bananaman22 · 27 replies
    Oilprice.com ^ | 02-08-2016 | Canada Is Weird
    n possibly one of the biggest marketing blunders of the millennium, a Canadian Oil Sands group has managed to alienate groups from almost every walk of life with their recent Facebook meme that prompted people to choose Canadian oil over Saudi oil—because, as the meme read, “In Canada, lesbians are considered hot! In Saudi Arabia, if you’re a lesbian, you die!” The ad went on to query, “Why are we getting our oil from countries that don’t think lesbians are hot?” You might be thinking that the Coke/New Coke marketing blunder was bad, but the hot-lesbian ad, particularly in today’s...
  • Fort McMurray wildfire grows 8 times larger as battle continues (update as of 12:30MDT, May 5, 2016)

    05/05/2016 12:19:43 PM PDT · by A Formerly Proud Canadian · 30 replies
    CBC News ^ | May 3, 2016 | CBC News
    Supercharged by winds of up to 70 km/h, the Fort McMurray wildfire ballooned to 85,000 hectares overnight and is now raging across a wide front south of the city. Alberta Premier Rachel Notley and wildfire officials say the fire is expected to continue to burn out of control today as more than 100 firefighters, 10 helicopters and 16 air tankers work to protect homes and critical infrastructure. One major task on Thursday will be to move up to 25,000 people now sheltering in oilsands work camps north of the city. The province hopes to transport many of those people, who...
  • 500,000 Barrels And $1 Billion In Losses: The True Cost Of Canada’s Wildfire

    05/05/2016 12:58:18 PM PDT · by bananaman22 · 9 replies
    Oilprice.com ^ | 05-05-2016 | Wildfire
    It took the market over a day to appreciate the fallout from the devastating Canadian wildfire which has led to a state of emergency in Alberta, the evacuation of over 80,000 people in the oil sands gateway city of Fort McMurray, and the destruction of over 1,600 structures. According to insurance industry reports, losses from the fire are approaching $1 billion, and will likely set records for the country. The average cost of a single-family home in the community was recently around CAD$627,000 ($487,000), Aon said, citing data from the local real estate industry, and cited by CNBC. That would...
  • Cheapest crude oil on the planet can be found here {Canada}

    01/15/2016 5:05:41 AM PST · by thackney · 1 replies
    Market Watch ^ | Jan 14, 2016 | William Watts
    Oil futures this week dipped below $30 for both West Texas Intermediate, the U.S. benchmark, and Brent crude, its more global, North Sea counterpart. That's brutally low and analysts have been lining up to predict further declines, but for some producers, oil in the upper $20s would be welcome relief. The cheapest oil on the planet right now, with the possible exception of some very low-quality crudes, can be found in the Canadian oil sands, said Tom Kloza, global head of energy analysis at Oil Price Information Service. The grade, known as Western Canada Select, was changing hands Wednesday afternoon...
  • Forget $20 - Oil Prices At $8 Per Barrel In Canada

    01/14/2016 1:34:01 PM PST · by bananaman22 · 22 replies
    Oilprice.com ^ | 14-01-2015 | noh
    Where is the cheapest crude oil in the world? And how low can you get that barrel of oil? WTI has declined to $30 per barrel, the lowest level in more than 12 years. But heavy oil producers in Canada would love to have $30 oil. The price for a barrel of bitumen, the tar-like oil sands that comes from Alberta, fell to just over $8 per barrel this week. That is not a typo. Bitumen traded at $8.35 per barrel on Tuesday. In fact, Amazon.com sells oil drums – just the barrel, not the oil – for $78, almost...
  • Ewart: Oilsands at a 'turning point' as outlook differs sharply from (recent) past

    12/17/2015 6:49:36 AM PST · by thackney · 17 replies
    Calgary Herald ^ | December 17, 2015 | Stephen Ewart
    The oilsands became a pillar of global oil supply growth during the first 15 years of this century but the oil price collapse has reaffirmed that a long-standing challenge -- perennial cost escalation -- continues to threaten future developments. Factor in a new cap on greenhouse gas emissions, long-term pipeline constraints as well as higher taxes and a report released Wednesday by U.S. energy consultants IHS concluding the vast oilsands resource in northern Alberta that's made Canada one of the world's major crude oil producers is at "a turning point." "The industry is shifting to a new period in which...
  • Obama Buddy Buffett Doubles BNDF investment due to Keystone Decision

    11/09/2015 7:44:39 AM PST · by raptor22 · 12 replies
    American Thinker ^ | November 9, 2015 | Daniel John Sobieski
    When President Obama announced he was killing the Keystone XL pipeline, he said he was agreeing with the State Department’s assessment that the pipeline from Canada “would not serve the national interests of the United States.” The fact is that it would not have benefitted the personal financial interests of friend and economic mentor, Warren Buffett, who can rest assured that oil from Canada and the nearby Bakken formation in North Dakota will continue to be transported by a railroad he owns. As Investor’s Business Daily noted in a 2011 editorial: Killing the Keystone XL pipeline may help one of...
  • Woe is Canada

    11/06/2015 6:49:34 AM PST · by thackney · 13 replies
    Petroleum News ^ | Week of November 08, 2015 | GARY PARK
    The Canadian Association of Petroleum Producers, speaking for companies which account for 90 percent of Canada's oil and natural gas production, has painted what is the bleakest picture of the industry's health in recent and possibly living memory. So bleak, that CAPP has gone for broke, submitting 60 recommendations to the Alberta government's royalty review panel, asking for a three-year delay in implementing any changes to royalty rates and pleading for lower royalties to offset the new administration's imposition of higher income taxes and carbon levies. That's the battered taking its begging bowl to the bruised. Both sides are reeling,...
  • Shell cancels big Canadian oil sands project

    10/28/2015 6:17:03 AM PDT · by thackney · 18 replies
    Fuel Fix ^ | October 27, 2015 | Collin Eaton
    Royal Dutch Shell says it will stop building a large Canadian oil sands project after low crude prices pushed it out of the company’s shortlist of profitable projects. It’s the second large project Shell has canceled since August, when it ditched a $7 billion effort to drill for oil in the Arctic Ocean north of Alaska. Shell said Tuesday its Carmon Creek project in Alberta, which was expected to pump 80,000 barrels of crude a day, was sanctioned in late 2013 when oil prices were still hovering around $100 a barrel. Viscous Canadian crude is costly to extract through via...
  • In Canada, Miniature Heavy-Oil Sites Overcome Slump in Crude Prices

    10/06/2015 5:45:29 AM PDT · by thackney · 1 replies
    Wall Street Journal ^ | Oct. 6, 2015 | CHESTER DAWSON
    ...What’s unusual about this project is the speed with which it is being built—in a matter of months—and its compact, football field-size. Oil-sands sites typically take years to build and require hundreds or thousands of acres of land. At a time when slumping crude-oil prices have shelved most new oil-sands projects in neighboring Alberta and halted drilling for all but the most productive shale oil wells in the Bakken formation on both sides of the border, pint-size sites are proliferating in Saskatchewan’s oil patch. ...three other similarly size heavy-oil projects are rising on a landscape filled with cattle pastures and...
  • Has Hillary lost the Teamsters over Keystone XL?

    10/02/2015 10:43:47 AM PDT · by raptor22 · 11 replies
    American THinker ^ | October 2, 2015 | Daniel John Sobieski
    The Fox News report that the Teamsters have decided not to endorse Hillary Clinton’s candidacy at this time, shortly after her pronouncement of her opposition to the Keystone XL pipeline, does not surprise and shows the peril of trying to be all things to all constituencies. On the one hand, there is a need to placate environmentalists and climate change true believers who oppose the pipeline from Canada. Among them is billionaire Tom Steyer, an eco-zealot who has pledged his fortune in support of Democratic candidates who want to repeal the Industrial Revolution who want us to rely on solar...
  • For Canadian Oil Sands It’s Adapt Or Die

    09/17/2015 3:11:24 PM PDT · by bananaman22 · 9 replies
    Oilprice.com ^ | 17-09-2015 | Albert
    That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s energy industry and economy, but also North American energy relations. In June 2015, the Canadian Association of Petroleum Producers (CAPP) revised down its 2030 production forecast to 5.3 million barrels per day (mbd). A year earlier the group predicted Canada would be able to produce 6.4 mbd by 2030. This is compared to...
  • Oil Price Increase Will Not Come Fast Enough To Save Alberta

    09/14/2015 2:44:09 PM PDT · by bananaman22 · 14 replies
    Oilprice.com ^ | 14-09-2015 | tarsands
    “There’s just no cash.” That’s the Coles Notes from a senior banker describing the book of oil service loans he manages for one of Alberta’s leading lenders. There’s simply not enough cash flow to support current levels of debt. Bankers and borrowers have kicked the can down the road about as far as they can as more oilfield service (OFS) and exploration and production (E&P) companies default on their loans and seek more relief on lending covenants. While a significant oil price increase to lift all the sinking boats will surely come, it won’t happen soon enough. More of the...
  • Canadian Oil Sands Evaluates Selling Some of Its Production Stream

    09/08/2015 1:14:35 PM PDT · by thackney
    Wall Street Journal ^ | Sept. 8, 2015 | BEN DUMMETT AND CHESTER DAWSON
    Canadian Oil Sands Ltd., one of Canada’s largest producers of crude, is looking into selling some of its future production amid low crude oil prices and a growing debt load. Canadian Oil Sands owns 37% of the Syncrude oil-sands mining consortium, one of the country’s largest producers of crude from the Alberta oil sands. Production snags at Syncrude’s operations and oil prices that recently fell to six-year lows have hit Canadian Oil Sands particularly hard because the Syncrude project is its only producing asset. In July, Canadian Oil Sands said it swung to a second-quarter loss, and last month Moody’s...
  • Alberta’s Oil Companies Warn Government On Taxes

    09/07/2015 8:35:49 AM PDT · by bananaman22 · 2 replies
    Oilprice.com ^ | 09-07-2015 | T.a.x
    Big oil is taking no chances with the outcome of Alberta’s royalty review currently underway. In 2007, the industry was surprised when royalties were jacked up despite dozens of corporate presentations to the royalty review panel warning of the fragility of investment economics and the damage increased royalties would cause. Therefore producers and others with significant vested interest have already started the lobbying process. Such is the case with Canadian Natural Resources Limited (CNRL) which made a slide presentation to the new NDP Alberta government on August 20. The industry has obviously learned never to assume politicians actually understand what...
  • The World’s First Clean Oil Sands Project: An Interview With Dr. Gerald Bailey

    09/01/2015 9:29:52 AM PDT · by bananaman22 · 1 replies
    Oilprice.com ^ | 09-01-2015 | sjiek
    fter decades of exhaustive attempts to overcome the dirty reputation of oil sands, we finally have an environmentally-friendly and low cost method to tap into these vast resources in the state of Utah—good news both for Mother Nature and all oil and gas investors. MCW Energy Group’s CEO, former Exxon President of the Arabian Gulf region, Dr. R. Gerald Bailey, tells Oilprice.com in an exclusive interview that his hunt for an innovative technology that simultaneously makes money and cleans up the environment is over. The race to capitalize on Utah’s vast oil sands resources is on, and only the ‘clean’—both...