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Author Topic: Oil price imbalance an unpleasant surprise and lasting detriment to Alberta Back to Topics
bar1035
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Charlotte

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Message Posted: Jan 19, 2013 2:37:09 AM

EDMONTON - The huge differential between Alberta and U.S. crude oil prices that is creating a cash shortfall for the province came as a surprise to government officials and will not soon disappear, Energy Minister Ken Hughes said Wednesday.

“On the U.S. Gulf Coast, Mexican Mayan heavy crude, which is very similar to our bitumen (blend), is getting $94 a barrel today while ours is $48 a barrel,” he told the Journal in an interview. “We are giving a $30 billion benefit to the American economy because of this. Is that in our national interest?

He said the situation looks a bit similar to that of natural gas five years ago.

“Natural gas was a great source of revenue for the province and industry and everyone thought this would go on forever and gas would be more important than oil,” he said
Visit Emonton Journal for full article
REPLIES (newest first) Post a Reply
LetemEatCake
Champion Author Oklahoma City

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Message Posted: Jan 20, 2013 11:07:17 PM

LMAO! The truth is bitumen is not heavy crude! It is Extra Heavy Crude, taken out of the whether stripped mined or in situ is NOT similar it is Tar and filthy!

By the way Pop, let's not throw stones at LiquidGold2011, What is sad is that you can't afford to.....you who live in a glass house, calling just about everybody ugly names should be more contrite! Another truth that will calm you and put you on the correct road.

[Edited by: LetemEatCake at 1/20/2013 11:08:27 PM EST]
drpepperTX
Champion Author Texas

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Message Posted: Jan 20, 2013 12:33:16 PM

LiquidGold is so misinformed as to have to use profanity on thi family site, how sad.
drpepperTX
Champion Author Texas

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Message Posted: Jan 19, 2013 11:29:33 PM

LOL, Cakes may be amused but is solidly misinformed.

Diluted bitumen is no more corrosive in pipelines than other heavy crude oils. Diluted bitumen has characteristics similar to other heavy crude oils, such as those produced in Venezuela, Mexico, and California, which have been transported and refined in U.S. pipelines for decades.

The truth shall set you free!
LetemEatCake
Champion Author Oklahoma City

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Message Posted: Jan 19, 2013 11:17:47 PM


Keep shipping all oil by train. I am amused that the Canadians are now saying the Mexican heavy crude is very similar to Canadian Extra Heavy Crude (Bitumen)! NOT!

I have to agree with orphancarguyPE.

Let let the Canadians despoil their own country and keep it out of the US...even 1 spill will be disastrous.
ExplorerWA
Champion Author Washington

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Message Posted: Jan 19, 2013 10:43:21 PM

This needs to be moved to the US.....let's get it moved.
Tekkersmom57
Champion Author Syracuse

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Message Posted: Jan 19, 2013 6:19:11 PM

Keystone needs to march forward. Enough with the hold ups!
Nicoalbum
Champion Author Ottawa

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Message Posted: Jan 19, 2013 4:09:53 PM

What a joke? Who is pocketing money on it?
Zeke33
Champion Author New Hampshire

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Message Posted: Jan 19, 2013 10:42:18 AM

Why do I see another opportunity for Obummer to kill the U.S. economy?
skb69sa
Champion Author San Antonio

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Message Posted: Jan 19, 2013 10:36:12 AM

Ok
Ken2OD
Champion Author Grand Rapids

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Message Posted: Jan 19, 2013 10:35:46 AM

Alaska North Slope Crude closed Thursday at $109.79 and oil production for the North Slope at Prudhoe Bay was 577,964 barrels for the day.
mysub
Champion Author Las Vegas

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Message Posted: Jan 19, 2013 10:33:42 AM

Keystone would help a great deal
larharris2
All-Star Author Tennessee

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Message Posted: Jan 19, 2013 10:32:30 AM

The price is what others are willing to pay for it. Get over it. Quit whining.
bowler360
Champion Author Illinois

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Message Posted: Jan 19, 2013 10:31:33 AM

We'll take that cheap stuff.
teatiger
Champion Author Dallas

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Message Posted: Jan 19, 2013 10:30:26 AM

Geez
TOOMUCH
Veteran Author Toronto

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Message Posted: Jan 19, 2013 10:28:14 AM

Build a pipeline to the west coast and sell to the highest bidder.
TRAIN RIDER
Champion Author San Bernardino

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Message Posted: Jan 19, 2013 10:27:50 AM

Then we need to buy it from Canada to keep the cost down.
peapaw
Champion Author Ohio

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Message Posted: Jan 19, 2013 10:26:32 AM

ok
orphancarguyPE
Champion Author PEI

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Message Posted: Jan 19, 2013 10:26:27 AM

Time to move it to Eastern Canadian refineries by rail to replace $$$$ imported oil, and also at least double the price Alberta is getting. Taking some oil out of the US pipelines will improve the price of oil that is left. What with reversing the #9 pipeline, and some other measures underway, that should take care of most of Canadian needs.

Time to give up on Americans gouging us yet again.
FogCitySpotter
Champion Author San Francisco

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Message Posted: Jan 19, 2013 10:25:38 AM

Is it about the quality of the crude or the location that it is pumped from?
highdesertman
Champion Author Albuquerque

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Message Posted: Jan 19, 2013 10:12:35 AM

From the article:

"Finance Minister Doug Horner added that Alberta knew the Bakken had a lot of potential, but thought that without pipeline connections development wouldn’t be that quick ... The answer was rail. It exploded onto the scene and is now moving a million barrels a day in the U.S., a trend that was not clear even 10 months ago, said Horner."

And yet they continue to hope for a pipeline solution which has opposition in both the U.S. and other provinces of Canada. Sounds like Canadian National and CP Rail need to get on the ball and find ways to move this product as BNSF has done with the Bakken.

Lugi1967
Champion Author Ohio

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Message Posted: Jan 19, 2013 9:24:09 AM

Keystone would help
MrDeath666
Champion Author Houston

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Message Posted: Jan 19, 2013 8:57:51 AM

Alberta is a beautiful place.
dave27johnson
Champion Author Chicago

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Message Posted: Jan 19, 2013 8:26:20 AM

We need to work better with Canada. We can both benefit with good infrastructure to move oil & gas throughout the continent & beyond.
Evilmaddog
Champion Author British Columbia

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Message Posted: Jan 19, 2013 8:20:02 AM

no wonder the Chinese want it
Joeski1
Champion Author New Jersey

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Message Posted: Jan 19, 2013 7:52:40 AM

gas up and down all week....

watching my local station go down 5.. the up 4,, then down 5.. than right back...

good thing they can only change their price once a day by law...
derKraut
Champion Author Ontario

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Message Posted: Jan 19, 2013 7:41:43 AM

Time to ask and get fair market value.
humblepie
Champion Author Toledo

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Message Posted: Jan 19, 2013 5:53:53 AM

canada needs more east, west pipelines
fora_7
Champion Author Montreal

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Message Posted: Jan 19, 2013 5:21:38 AM

If it can remain safe
MN1
Champion Author Twin Cities

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Message Posted: Jan 19, 2013 5:00:55 AM

Keep the tar sands and have XL build its pipeline through Canada for export to the highest bidder.
jwalkerh
Champion Author Louisiana

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Message Posted: Jan 19, 2013 4:37:25 AM

Natural gas is working for us...
heydano67
Champion Author California

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Message Posted: Jan 19, 2013 4:34:12 AM

Oil companies are not passing that savings along
djgunrunner
Champion Author Salt Lake City

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Message Posted: Jan 19, 2013 3:01:55 AM

If they were smart they would ship it to the East Coast where they are now importing from the North Sea at around $110.00 area per barrel. It would cost them about $3.00 per barrel for the shipping and they could raise the price considerably. The next thing the should consider is to build the Keystone pipeline to Toronto or some place like that to cut the shipping cost.
pricewar
Champion Author Ogden

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Message Posted: Jan 19, 2013 2:51:24 AM

When the price is right for the people, it is in our national interest
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