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The Costly Compromises of Oil From Sand
Keywords:
Tags: Canada, Oil & Gas,
There are serious issues facing crude oil production from Alberta tar sands which stem from environmental concerns, and the captal intensive, energy intensive, nature of production from tar sands. According to a recent RAND study energy production from tar sands causes 10-30% more greenhouse gas emissions. Add to that destruction of boreal forest, destruction of bird life, and the contamination of water supplies from the lake size tailings ponds used to store spent water from oil sands projects. Large amounts of steam are needed to separate the dirt from the oil in the tar sands. According to Environmental Defence about 4 billion litres of contaminated water leaked from these tailings ponds and this seepage is polluting rivers in Northern Canada. The technology for trapping and storing the carbon dioxide from the production process is still in the research stage. The other hurdle facing the tar sands development is the price of crude which is around $49 a barrel. While some older tar sands plants can operate even at $30 a barrel, newer operations need $60 or $70 per barrel for acceptable returns, according to Prof. Leach, a professor of environmental economics at the University of Alberta. For these reasons Canadian tar sands production which is now at 1.2 million barrels a day is not likely to go much higher or approach the 3.5 million barrels a day predicted for 2015. Petro-Canada said it would suspend 23.8 billion dollars of expansions in Alberta to tar sands projects, and Canadian Natural Resources is cutting its capital spending in half.
Petro Canada
01/07/2009
Grouped Articles
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
Environmental Defense
01/07/2009
Grouped Articles
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
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
The proposed U.S.-Canada partnership for the Keystone XL Pipeline project
01/07/2009
This would bring an additional 1.1 million barrels of Canadian oil to the U.S. from Alberta oil sands. The project is being held up by the Obama administration. The Energy Department gave its approval in February 2011, but it is being held up for further environmental studies. Advances in environmental protection for oil sands development have reduced the footprint of the processes used in production of oil. This would reduce imports from the Middle East and have a favorable impact on oil prices.
Grouped Articles
Trade and Oil on Agenda as Obama Visits Canada
New York Times 02/20/2009
Wall Street Journal 07/28/2013
Canada Looks to Sell Its Oil Beyond U.S.
Wall Street Journal 08/23/2013
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
House Passes Bill to Approve Keystone XL Pipeline
Wall Street Journal 11/14/2014
Canadian Natural Resources
01/07/2009
Grouped Articles
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
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
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
Athabasca Oil Sands Corporation
01/07/2009
Grouped Articles
PetroChina Buys Oil-Sands Project
Wall Street Journal 01/04/2012
Wall Street Journal 07/25/2012
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
Alberta tar sands projects are coming in at costs as high as twice the original estimate.
09/12/2007
A project by Petro-Canada came in at $4.8 billion, twice the original estimate. With costs rising and crude oil prices dropping below $50 a barrel, and viability of projects requiring price of $60, new projects may be cut.
Linked Articles
Wall Street Journal 09/12/2007
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
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
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