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Author Topic: Have the Canadian Tar Sands had their Day? Back to Topics
Gastroenteritis

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Jacksonville

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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
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jrs4125
Champion Author Indiana

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Message Posted: Apr 4, 2013 6:10:30 AM

Yes
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LetemEatCake
Champion Author Oklahoma City

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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]
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Trudat316
Veteran Author Missouri

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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.
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Coco0828
Champion Author Dallas

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Message Posted: Apr 3, 2013 8:41:19 PM

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

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Message Posted: Apr 3, 2013 6:52:06 PM

The next dot com bubble.
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drobbbb
Champion Author Maryland

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Message Posted: Apr 3, 2013 4:01:46 PM

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

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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.
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eyegotgas2
Champion Author British Columbia

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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.
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JDchefF
Champion Author Lancaster

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Message Posted: Apr 3, 2013 3:33:03 PM

ok
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skempton
Champion Author Vermont

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Message Posted: Apr 3, 2013 2:50:19 PM

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

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Message Posted: Apr 3, 2013 2:26:43 PM

Pass to the next LOL
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fowlcan
Champion Author Oklahoma City

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Message Posted: Apr 3, 2013 2:13:45 PM

All good things must pass.
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humblepie
Champion Author Toledo

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Message Posted: Apr 3, 2013 2:12:31 PM

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

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Message Posted: Apr 3, 2013 1:56:42 PM

Ok
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Nicoalbum
Champion Author Ottawa

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Message Posted: Apr 3, 2013 12:15:59 PM

Tar Sands have no future, helas
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DoctorV
Champion Author Detroit

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Message Posted: Apr 3, 2013 12:10:26 PM

Until the price rises or the glut of U.S. oil disappears.
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mastermariner
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Message Posted: Apr 3, 2013 12:06:59 PM

No
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lesabreAZ
Champion Author Phoenix

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Message Posted: Apr 3, 2013 12:06:11 PM

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

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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.
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Van_Halen
Champion Author Atlanta

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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!
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mazdaboy
Champion Author Portland

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Message Posted: Apr 3, 2013 11:43:45 AM

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

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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.
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evowner
Champion Author Salem

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Message Posted: Apr 3, 2013 11:37:22 AM

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

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Message Posted: Apr 3, 2013 11:36:23 AM

I don't think so.
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USMCturtlehead
Champion Author Lexington

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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.
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Hemi3tc
Veteran Author Vancouver

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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.
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Bttlecat
Champion Author Oklahoma City

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Message Posted: Apr 3, 2013 11:00:38 AM

reading the complete article brings the headline into question
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