Not Logged In Log In   Sign Up   Points Leaders
Follow Us    11:08 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil price imbalance an unpleasant surprise and lasting detriment to Alberta Back to Topics
bar1035
Champion Author
Charlotte

Posts:13,537
Points:2,071,795
Joined:Aug 2006
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

Posts:5,705
Points:1,360,915
Joined:Mar 2008
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

Posts:14,355
Points:1,521,395
Joined:Apr 2011
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

Posts:14,355
Points:1,521,395
Joined:Apr 2011
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

Posts:5,705
Points:1,360,915
Joined:Mar 2008
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

Posts:6,047
Points:1,466,040
Joined:Feb 2011
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

Posts:5,081
Points:1,468,080
Joined:May 2010
Message Posted: Jan 19, 2013 6:19:11 PM

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

Posts:9,839
Points:1,960,000
Joined:Jan 2010
Message Posted: Jan 19, 2013 4:09:53 PM

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

Posts:7,769
Points:2,141,450
Joined:Sep 2005
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

Posts:6,480
Points:1,439,175
Joined:Mar 2011
Message Posted: Jan 19, 2013 10:36:12 AM

Ok
Ken2OD
Champion Author Grand Rapids

Posts:12,206
Points:2,735,945
Joined:Dec 2005
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

Posts:11,735
Points:3,084,750
Joined:Apr 2006
Message Posted: Jan 19, 2013 10:33:42 AM

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

Posts:572
Points:1,204,605
Joined:Oct 2011
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

Posts:4,997
Points:1,261,920
Joined:Jun 2011
Message Posted: Jan 19, 2013 10:31:33 AM

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

Posts:5,901
Points:2,248,490
Joined:Nov 2008
Message Posted: Jan 19, 2013 10:30:26 AM

Geez
TOOMUCH
Veteran Author Toronto

Posts:264
Points:81,060
Joined:Jul 2003
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

Posts:12,285
Points:3,527,155
Joined:Oct 2004
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

Posts:7,279
Points:1,442,970
Joined:Jun 2011
Message Posted: Jan 19, 2013 10:26:32 AM

ok
orphancarguyPE
Champion Author PEI

Posts:6,923
Points:1,474,660
Joined:Jan 2011
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

Posts:3,651
Points:1,007,510
Joined:Apr 2007
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

Posts:5,553
Points:2,424,685
Joined:Mar 2005
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

Posts:7,609
Points:1,747,900
Joined:Jun 2010
Message Posted: Jan 19, 2013 9:24:09 AM

Keystone would help
MrDeath666
Champion Author Houston

Posts:66,666
Points:752,400
Joined:Sep 2012
Message Posted: Jan 19, 2013 8:57:51 AM

Alberta is a beautiful place.
dave27johnson
Champion Author Chicago

Posts:2,726
Points:1,104,725
Joined:Feb 2012
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

Posts:6,536
Points:1,727,845
Joined:Aug 2010
Message Posted: Jan 19, 2013 8:20:02 AM

no wonder the Chinese want it
Joeski1
Champion Author New Jersey

Posts:13,980
Points:2,515,410
Joined:Dec 2004
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

Posts:2,310
Points:1,850,325
Joined:Dec 2008
Message Posted: Jan 19, 2013 7:41:43 AM

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

Posts:63,670
Points:3,146,145
Joined:Mar 2006
Message Posted: Jan 19, 2013 5:53:53 AM

canada needs more east, west pipelines
fora_7
Champion Author Montreal

Posts:4,103
Points:978,475
Joined:Sep 2012
Message Posted: Jan 19, 2013 5:21:38 AM

If it can remain safe
MN1
Champion Author Twin Cities

Posts:6,450
Points:1,396,380
Joined:Jun 2011
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

Posts:6,508
Points:1,451,080
Joined:Oct 2008
Message Posted: Jan 19, 2013 4:37:25 AM

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

Posts:2,677
Points:1,045,965
Joined:Feb 2012
Message Posted: Jan 19, 2013 4:34:12 AM

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

Posts:13,523
Points:3,115,810
Joined:Apr 2005
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

Posts:5,231
Points:1,048,305
Joined:Jul 2012
Message Posted: Jan 19, 2013 2:51:24 AM

When the price is right for the people, it is in our national interest
Post a reply Back to Topics