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Author	Topic: Oil price imbalance an unpleasant surprise and lasting detriment to Alberta	Post a Reply Back to Topics

bar1035 Champion Author Charlotte Posts:9,343 Points:1,325,920 Joined:Aug 2006	Message Posted: Jan 19, 2013 2:37:09 AM Ignore bar1035 Report Abuse 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

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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

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LetemEatCake Champion Author Oklahoma City Posts:5,667 Points:1,229,200 Joined:Mar 2008	Message Posted: Jan 20, 2013 11:07:17 PM Ignore LetemEatCake Report Abuse 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 Posts:9,159 Points:778,875 Joined:Apr 2011	Message Posted: Jan 20, 2013 12:33:16 PM Ignore drpepperTX Report Abuse LiquidGold is so misinformed as to have to use profanity on thi family site, how sad.
drpepperTX Champion Author Texas Posts:9,159 Points:778,875 Joined:Apr 2011	Message Posted: Jan 19, 2013 11:29:33 PM Ignore drpepperTX Report Abuse 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 Posts:5,667 Points:1,229,200 Joined:Mar 2008	Message Posted: Jan 19, 2013 11:17:47 PM Ignore LetemEatCake Report Abuse 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 Posts:4,235 Points:824,100 Joined:Feb 2011	Message Posted: Jan 19, 2013 10:43:21 PM Ignore ExplorerWA Report Abuse This needs to be moved to the US.....let's get it moved.
Tekkersmom57 Champion Author Syracuse Posts:2,019 Points:728,890 Joined:May 2010	Message Posted: Jan 19, 2013 6:19:11 PM Ignore Tekkersmom57 Report Abuse Keystone needs to march forward. Enough with the hold ups!
Nicoalbum Champion Author Ottawa Posts:6,167 Points:1,216,725 Joined:Jan 2010	Message Posted: Jan 19, 2013 4:09:53 PM Ignore Nicoalbum Report Abuse What a joke? Who is pocketing money on it?
Zeke33 Champion Author New Hampshire Posts:5,660 Points:1,635,215 Joined:Sep 2005	Message Posted: Jan 19, 2013 10:42:18 AM Ignore Zeke33 Report Abuse Why do I see another opportunity for Obummer to kill the U.S. economy?
skb69sa Champion Author San Antonio Posts:3,623 Points:738,850 Joined:Mar 2011	Message Posted: Jan 19, 2013 10:36:12 AM Ignore skb69sa Report Abuse Ok
Ken2OD Champion Author Grand Rapids Posts:9,208 Points:1,998,665 Joined:Dec 2005	Message Posted: Jan 19, 2013 10:35:46 AM Ignore Ken2OD Report Abuse 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 Posts:9,051 Points:2,358,165 Joined:Apr 2006	Message Posted: Jan 19, 2013 10:33:42 AM Ignore mysub Report Abuse Keystone would help a great deal
larharris2 Veteran Author Tennessee Posts:341 Points:524,010 Joined:Oct 2011	Message Posted: Jan 19, 2013 10:32:30 AM Ignore larharris2 Report Abuse The price is what others are willing to pay for it. Get over it. Quit whining.
bowler360 Champion Author Illinois Posts:2,110 Points:527,250 Joined:Jun 2011	Message Posted: Jan 19, 2013 10:31:33 AM Ignore bowler360 Report Abuse We'll take that cheap stuff.
teatiger Champion Author Dallas Posts:2,820 Points:1,504,565 Joined:Nov 2008	Message Posted: Jan 19, 2013 10:30:26 AM Ignore teatiger Report Abuse Geez
TOOMUCH Sophomore Author Toronto Posts:192 Points:21,170 Joined:Jul 2003	Message Posted: Jan 19, 2013 10:28:14 AM Ignore TOOMUCH Report Abuse Build a pipeline to the west coast and sell to the highest bidder.
TRAIN RIDER Champion Author San Bernardino Posts:9,217 Points:2,784,545 Joined:Oct 2004	Message Posted: Jan 19, 2013 10:27:50 AM Ignore TRAIN RIDER Report Abuse Then we need to buy it from Canada to keep the cost down.
peapaw Champion Author Ohio Posts:4,180 Points:715,495 Joined:Jun 2011	Message Posted: Jan 19, 2013 10:26:32 AM Ignore peapaw Report Abuse ok
orphancarguyPE Champion Author PEI Posts:3,905 Points:758,850 Joined:Jan 2011	Message Posted: Jan 19, 2013 10:26:27 AM Ignore orphancarguyPE Report Abuse 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 Posts:2,620 Points:548,540 Joined:Apr 2007	Message Posted: Jan 19, 2013 10:25:38 AM Ignore FogCitySpotter Report Abuse Is it about the quality of the crude or the location that it is pumped from?
highdesertman Champion Author Albuquerque Posts:2,623 Points:1,743,830 Joined:Mar 2005	Message Posted: Jan 19, 2013 10:12:35 AM Ignore highdesertman Report Abuse 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 Posts:4,916 Points:1,029,460 Joined:Jun 2010	Message Posted: Jan 19, 2013 9:24:09 AM Ignore Lugi1967 Report Abuse Keystone would help
MrDeath666 Champion Author Houston Posts:1,765 Points:271,140 Joined:Sep 2012	Message Posted: Jan 19, 2013 8:57:51 AM Ignore MrDeath666 Report Abuse Alberta is a beautiful place.
dave27johnson Champion Author Chicago Posts:1,823 Points:433,070 Joined:Feb 2012	Message Posted: Jan 19, 2013 8:26:20 AM Ignore dave27johnson Report Abuse 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 Posts:3,466 Points:985,250 Joined:Aug 2010	Message Posted: Jan 19, 2013 8:20:02 AM Ignore Evilmaddog Report Abuse no wonder the Chinese want it
Joeski1 Champion Author New Jersey Posts:10,210 Points:1,769,535 Joined:Dec 2004	Message Posted: Jan 19, 2013 7:52:40 AM Ignore Joeski1 Report Abuse 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 Posts:2,114 Points:1,250,405 Joined:Dec 2008	Message Posted: Jan 19, 2013 7:41:43 AM Ignore derKraut Report Abuse Time to ask and get fair market value.
humblepie Champion Author Toledo Posts:35,329 Points:2,399,070 Joined:Mar 2006	Message Posted: Jan 19, 2013 5:53:53 AM Ignore humblepie Report Abuse canada needs more east, west pipelines
fora_7 All-Star Author Montreal Posts:995 Points:233,825 Joined:Sep 2012	Message Posted: Jan 19, 2013 5:21:38 AM Ignore fora_7 Report Abuse If it can remain safe
MN1 Champion Author Twin Cities Posts:3,494 Points:677,915 Joined:Jun 2011	Message Posted: Jan 19, 2013 5:00:55 AM Ignore MN1 Report Abuse Keep the tar sands and have XL build its pipeline through Canada for export to the highest bidder.
jwalkerh Champion Author Louisiana Posts:6,197 Points:1,377,430 Joined:Oct 2008	Message Posted: Jan 19, 2013 4:37:25 AM Ignore jwalkerh Report Abuse Natural gas is working for us...
heydano67 Champion Author California Posts:1,806 Points:385,235 Joined:Feb 2012	Message Posted: Jan 19, 2013 4:34:12 AM Ignore heydano67 Report Abuse Oil companies are not passing that savings along
djgunrunner Champion Author Salt Lake City Posts:10,252 Points:2,376,305 Joined:Apr 2005	Message Posted: Jan 19, 2013 3:01:55 AM Ignore djgunrunner Report Abuse 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 Posts:2,075 Points:302,490 Joined:Jul 2012	Message Posted: Jan 19, 2013 2:51:24 AM Ignore pricewar Report Abuse When the price is right for the people, it is in our national interest