Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:38 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Have the Canadian Tar Sands had their Day? Back to Topics
Gastroenteritis

All-Star Author
Jacksonville

Posts:641
Points:94,620
Joined:Nov 2008
Message Posted: Apr 3, 2013 10:58:39 AM

Is Canada's tar sands expansion in trouble? Probably not, but the issue is complicated, so bear with me.

Back on November 9, 2012 I wrote a post called A Slowdown At The Tar Sands, noting that the economics of new projects had become "challenging" according to James Burkhard, head of oil-market research for oil consultancy IHS Cera. Bloomberg recently reported on a new development at the tar sands which confirms that diagnosis.

Visit By Dave Cohen for full article
REPLIES (newest first) Post a Reply
Profile Pic
jrs4125
Champion Author Indiana

Posts:4,764
Points:1,036,935
Joined:Sep 2011
Message Posted: Apr 4, 2013 6:10:30 AM

Yes
Profile Pic
LetemEatCake
Champion Author Oklahoma City

Posts:5,705
Points:1,360,915
Joined:Mar 2008
Message Posted: Apr 3, 2013 11:43:43 PM

From the article,

"Bitumen is expensive to extract, upgrade and refine and cannot compete with the many new shale oil plays which have pushed US production to its highest level in a decade."



[Edited by: LetemEatCake at 4/3/2013 11:45:18 PM EST]
Profile Pic
Trudat316
Veteran Author Missouri

Posts:341
Points:54,840
Joined:Feb 2013
Message Posted: Apr 3, 2013 9:35:22 PM

The oil will be exported to China one way or another. Otherwise, why not refine it in Canada? We already got suckered into several misadventures in the past 10 years. Lets not build a pipeline for the Pharaohs, to boot.
Profile Pic
Coco0828
Champion Author Dallas

Posts:2,915
Points:558,535
Joined:Aug 2012
Message Posted: Apr 3, 2013 8:41:19 PM

What's a tar sand?
Profile Pic
endymion
Champion Author New York

Posts:2,473
Points:506,295
Joined:Nov 2012
Message Posted: Apr 3, 2013 6:52:06 PM

The next dot com bubble.
Profile Pic
drobbbb
Champion Author Maryland

Posts:5,423
Points:1,248,380
Joined:Dec 2010
Message Posted: Apr 3, 2013 4:01:46 PM

as along as we need gas they will still be in business
Profile Pic
nsdp
Champion Author San Antonio

Posts:1,118
Points:77,285
Joined:Jun 2012
Message Posted: Apr 3, 2013 4:00:38 PM

Global demand can be strong but not justify a Canadian project that needs $100/barrel at the site to break even. That is why Total took a $1.65 billion write down of its Alberta holdings and the Voyageur project. Worst case deep water Gulf of Mexico or off Brazil is about $50-55. Then add shipping to any coast to get it out of Canada. Oil companies operate on profit and loss not whim.
Profile Pic
eyegotgas2
Champion Author British Columbia

Posts:3,483
Points:699,430
Joined:Sep 2011
Message Posted: Apr 3, 2013 3:40:54 PM

Just read an article here about Global Demand being strong.

If the states doesn't want it there are other markets that will.

At least they were getting the refinery jobs. It is probably a win win for both countries.
Profile Pic
JDchefF
Champion Author Lancaster

Posts:1,509
Points:332,895
Joined:Aug 2012
Message Posted: Apr 3, 2013 3:33:03 PM

ok
Profile Pic
skempton
Champion Author Vermont

Posts:3,166
Points:1,261,070
Joined:Apr 2010
Message Posted: Apr 3, 2013 2:50:19 PM

It will be there for a long time.
Profile Pic
pleinyeux
Champion Author Montreal

Posts:2,589
Points:617,895
Joined:Oct 2012
Message Posted: Apr 3, 2013 2:26:43 PM

Pass to the next LOL
Profile Pic
fowlcan
Champion Author Oklahoma City

Posts:3,715
Points:1,111,760
Joined:Feb 2011
Message Posted: Apr 3, 2013 2:13:45 PM

All good things must pass.
Profile Pic
humblepie
Champion Author Toledo

Posts:53,162
Points:2,823,060
Joined:Mar 2006
Message Posted: Apr 3, 2013 2:12:31 PM

the boy is a nut case, china will be all over the tar sands
Profile Pic
ddor
Champion Author Michigan

Posts:1,415
Points:610,435
Joined:Aug 2012
Message Posted: Apr 3, 2013 1:56:42 PM

Ok
Profile Pic
Nicoalbum
Champion Author Ottawa

Posts:8,398
Points:1,638,110
Joined:Jan 2010
Message Posted: Apr 3, 2013 12:15:59 PM

Tar Sands have no future, helas
Profile Pic
DoctorV
Champion Author Detroit

Posts:4,218
Points:639,025
Joined:Aug 2008
Message Posted: Apr 3, 2013 12:10:26 PM

Until the price rises or the glut of U.S. oil disappears.
Profile Pic
mastermariner
Champion Author Texas

Posts:12,214
Points:926,135
Joined:Jun 2011
Message Posted: Apr 3, 2013 12:06:59 PM

No
Profile Pic
lesabreAZ
Champion Author Phoenix

Posts:3,788
Points:854,620
Joined:Nov 2011
Message Posted: Apr 3, 2013 12:06:11 PM

yeah it's a dried up tar hole
Profile Pic
mitt4prez
Champion Author Tacoma

Posts:3,887
Points:1,688,415
Joined:Nov 2007
Message Posted: Apr 3, 2013 11:54:41 AM

"Canadian oil is looking less attractive all the time. " warbles a blue state Won worshiper.

Less attractiveness is caused by The Won (II) and his Green fanatic allies.
Profile Pic
Van_Halen
Champion Author Atlanta

Posts:3,038
Points:995,030
Joined:Apr 2011
Message Posted: Apr 3, 2013 11:44:44 AM

.
Maybe for America if Obama keeps illegally blocking the border crossing which he has absolutely no purview on!

Canada will be selling most of it to our enemy China if Obama has his way. The real reason for his blocking it is to keep making his Muslim friends rich on the backs of everyday Americans!

Without the Dumbocrats, the Obama Administration, DOE, and EPA blocking drilling on Federal Lands and easy to access oil in the Everglades, ANWR, and one mile off the coast, Oil would be at $50 a barrel because America would no longer need to buy ANY oil from OPEC!

FACT: Canada, America, and Mexico have more Oil then the rest of the World combined! There is no need to import Oil except for the fact that Dumbocrats will not let us at our own Oil!
Profile Pic
mazdaboy
Champion Author Portland

Posts:9,971
Points:2,537,685
Joined:Aug 2003
Message Posted: Apr 3, 2013 11:43:45 AM

Canadian oil is looking less attractive all the time.
Profile Pic
CocoPaz
Champion Author Santa Barbara

Posts:5,680
Points:773,980
Joined:Jun 2012
Message Posted: Apr 3, 2013 11:41:58 AM

Interesting article.

Today I am praying for the fast recovery of the Louisville basketball player who broke his leg.
Profile Pic
evowner
Champion Author Salem

Posts:4,533
Points:801,680
Joined:May 2012
Message Posted: Apr 3, 2013 11:37:22 AM

There's hope that the tar sands will never be needed as a fuel source.
Profile Pic
teenitup
Champion Author Houston

Posts:4,205
Points:679,210
Joined:Sep 2012
Message Posted: Apr 3, 2013 11:36:23 AM

I don't think so.
Profile Pic
USMCturtlehead
Champion Author Lexington

Posts:515,270
Points:554,225
Joined:Feb 2013
Message Posted: Apr 3, 2013 11:30:10 AM

Thee tar sands will be here to stay, they mat just have to wait their turn in the barrel.
Profile Pic
Hemi3tc
Veteran Author Vancouver

Posts:379
Points:528,930
Joined:Feb 2012
Message Posted: Apr 3, 2013 11:21:58 AM

Currently, only if no Soveign state buys into the oil sands play.
The oil will always be there. The price is just not right yet.
In another couple hundred years if the shale plays run out there maybe some room for Tar Sands.
Profile Pic
Bttlecat
Champion Author Oklahoma City

Posts:1,662
Points:329,260
Joined:Jan 2013
Message Posted: Apr 3, 2013 11:00:38 AM

reading the complete article brings the headline into question
Post a reply Back to Topics