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Oil Sands Are Shifting in Alberta
Keywords:
Tags: Canada, Oil & Gas,
Smaller companies are being squeezed by rapidly escalating costs as costs are going up as fast as oil prices, and face tighter emissions rules in Alberta's oil sands projects. Some projects now cost 2 to 3 times the original projections and there is a severe labor shortage. Even the big players will find it difficult and expensive. To meet the stringent emissions rules, as Prime Minister Harper signs on to new international greenhouse emissions targets, Shell may have to use a technology that captures CO2 from the plants that process the oil sands and store the gas underground. This costs $120 a ton, and would cost Shell upwards of $2 billion a year just to capture and store the CO2, for the 15-20 million tons of CO2 that would be emitted when it increases production to 770,000 barrels a day. The cleanup from oil sands processing is costly because processing is very pollution intensive. Production of one barrel from these oil sands is 3 times more polluting than producing conventional oil. Synenco Energy, which had a project in partnership with China's Sinopec for mining and processing the oil sands called Northern Lights for $10.8 billion, called off the project last year because of all these hurdles, slashed its work force, and decided it may sell the company. Currently 1.1 million barrels a day come from the Alberta oil sands. 2020 output was expected to rise to 4.3 million barrels a day. But now this looks too optimistic. CAPP forecests 3.8 million barrels a day, but even this may be on the high side.
Canada's oil sands projects face higher costs and stringent emissions caps.
07/11/2007
Alberta oil sands projects face rapidly increasing costs sometimes 2-3 times original projections and labor shortages, and technologies to meet emissions rules can be costly.
Grouped Articles
Canadian Regulator Waives Oil-Sands Enforcement Penalties
Wall Street Journal 06/13/2013
A sticky ending for the tar sands
Economist 01/15/2009
Leftist Party’s Win in Alberta May Affect Future of Oil Sands
New York Times 05/06/2015
Falling Crude Prices Upend Canada’s Oil Sands Projects
Wall Street Journal 07/23/2015
Oil Companies Stake Future on Canada
Wall Street Journal 07/11/2007
Marathon Oil to Pay $5.56 Billion For Canada's Western Oil Sands
Wall Street Journal 07/31/2007
Canada's oil sands projects in 2010-2016
02/05/2008
Grouped Articles
Canadian Regulator Waives Oil-Sands Enforcement Penalties
Wall Street Journal 06/13/2013
Keystone XL Review Sees Little Impact on Climate
Wall Street Journal 02/02/2014
Even Without Keystone Pipeline, Oil Has Flowed
Wall Street Journal 02/02/2014
A sticky ending for the tar sands
Economist 01/15/2009
Canadian Oil Sands Cuts Dividend, Citing Debt Load and Crude Price Drop
Wall Street Journal 12/04/2014
Leftist Party’s Win in Alberta May Affect Future of Oil Sands
New York Times 05/06/2015
New technologies and Canada's oil sands
02/05/2008
Grouped Articles
Canadian Regulator Waives Oil-Sands Enforcement Penalties
Wall Street Journal 06/13/2013
A sticky ending for the tar sands
Economist 01/15/2009
Falling Crude Prices Upend Canada’s Oil Sands Projects
Wall Street Journal 07/23/2015
Wall Street Journal 07/25/2012
Mining Canada's Oil Sands: Suddenly, Not a Sure Thing
Wall Street Journal 11/02/2012
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
Economic and sales forecasts in the boom years before the 2008 financial crisis, and well into the downturn, that lost objectivity and analytical focus.
07/14/2005
How objectivity and analytical focus was lost as company and association management in the housing, auto and other industries, and their economists tried to believe and maintain the status quo. A similiar situation at the US central bank, the IMF, and other locations. The tendency to be upbeat and ignore emerging danger signs requiring a more realistic assessment. And the frequent revisions as a result of this.
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Foreclosed Houses Haunt Home Builders
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Australia Suggests End of Home Boom Needn't Be Dire
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As Data Point to Slowdown, Housing Market May Land Harder Than Economists Predict
Wall Street Journal 08/07/2006
BusinessWeek 03/19/2007
In a Sea of Optimism, Why Some Forecasters Warn of Recession
Wall Street Journal 06/25/2007
Environmental reports on Canada's oil sands and new government standards
01/23/2008
Grouped Articles
Canadian Regulator Waives Oil-Sands Enforcement Penalties
Wall Street Journal 06/13/2013
Keystone XL Review Sees Little Impact on Climate
Wall Street Journal 02/02/2014
A sticky ending for the tar sands
Economist 01/15/2009
Leftist Party’s Win in Alberta May Affect Future of Oil Sands
New York Times 05/06/2015
Falling Crude Prices Upend Canada’s Oil Sands Projects
Wall Street Journal 07/23/2015
Panel Criticizes Oil-Sands Monitoring
Wall Street Journal 12/22/2010
The changing economic viability of mining in Canada's tar sands oil industry in 2012-2015
08/01/2007
Costs of synthetic crude manufactured from mining bitumen can exceed $100 a barrel as costs escalate in the recent boom in Alberta oil sands region. U.S. crude prices have dropped below $90 a barrel putting some large multibillion projects of Suncor Energy on hold. Production from U.S. Bakken oil fields in N. Dakota and limited pipelie space is changing the economics of production from tar sands.
Grouped Articles
How North Dakota Became Saudi Arabia
Wall Street Journal 10/01/2011
Canadian Regulator Waives Oil-Sands Enforcement Penalties
Wall Street Journal 06/13/2013
Keystone XL Review Sees Little Impact on Climate
Wall Street Journal 02/02/2014
Even Without Keystone Pipeline, Oil Has Flowed
Wall Street Journal 02/02/2014
A sticky ending for the tar sands
Economist 01/15/2009
U.S. Seeks New Rules for Rail Transport of Fuel
Wall Street Journal 07/24/2014
As environmental concerns grow and the price of crude oil drops to $49 a barrel projects for tar sands in Alberta are being cut.
02/05/2008
Production from Alberta tar sands is running into problems from the environmental concerns to the falling price of crude oil.
Linked Articles
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
Oil Sands Are Shifting in Alberta
Wall Street Journal 02/05/2008
Rapid cost increases for Canadian oil sands projects
09/12/2007
Petro -Canada faces risks in its oil sands project as project costs continue to rise as rapidly as oil prices, could end up 2-3 times the original estimate.
Linked Articles
Oil Sands Are Shifting in Alberta
Wall Street Journal 02/05/2008
Wall Street Journal 09/12/2007
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