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Author Topic: U.S. tight oil boom takes shine off oil sands Back to Topics
Nicoalbum

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Ottawa

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Message Posted: Apr 30, 2013 7:33:25 PM

Alberta’s landlocked bitumen reserves stand to lose their allure as China’s state-backed oil giants pour money into the light oil renaissance underway in pockets of the U.S.

The boom in so-called tight oil attracted US$41-B in capital investment last year and could reach US$72-B by 2020, according to the API.

The total rivals the $23-B spent in the oil sands last year and may help coax hundreds of thousands of additional barrels of light oil from Bakken field, the Eagle Ford play and Monterey shale.

China’s state-controlled companies have poured more than US$5.5-B into U.S. shale oil and gas plays since 2008.

The investment, although just a fraction of the estimated $30-B spent on Canadian energy assets during roughly the same period, may increase as China’s search for technical know-h
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NedW
Champion Author Indianapolis

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Message Posted: May 2, 2013 2:43:49 AM

Thank you for submitting this article, Nicoalbum.
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txequitygas
Champion Author Houston

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Message Posted: May 1, 2013 8:58:56 AM

drill
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MN1
Champion Author Twin Cities

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Message Posted: May 1, 2013 1:04:05 AM

Just trying to get the most bang for their buck.
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SammyAdams
Champion Author Tallahassee

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Message Posted: Apr 30, 2013 10:47:53 PM

From the article:

". . . as China’s state-backed oil giants pour money . . ."

". . . China’s state-controlled companies have poured more than . . ."

===============================================================

Sometimes it is difficult to see the forest for all the trees, but one thing that's for certain: COMMUNIST CHINA ALWAYS DOES WHATEVER IS BEST TO PERPETUATE THEIR GANGSTER REGIME. Both the U.S and Canada will compete with each other to sell the rope to China that will be used for the hanging of our countries. It was the U.S. Department of State that delivered China into the hands of the Communists and as irony has its way, it will likely be our U.S. State Department that will be responsible for the betrayal of our own country.

It used to be a requirement every year to vote as to whether or not to give Communist China "Most Favored Nation" trade status, but now they have been given "permanent" status, which allows them to exploit and further their grip on the slave labor that competes against products which American workers manufacture. This will likely come back to bite US and well it should, since we (more than any other country) have consigned the most populous country on this planet to a life of slavery.

We shouldn't even TRADE with this country or any other country which keeps their people in bondage, because we contribute to said enslavement of these people. And as a result, this slavery will fall upon our own heads in due time.

[Edited by: SammyAdams at 4/30/2013 10:52:00 PM EST]
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JeffersonState
All-Star Author Oregon

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Message Posted: Apr 30, 2013 10:14:32 PM

I still do not understand why China is not making this investment in their own lands. Are they keeping it for the future when North America's resources are gone and they think they will control the world with their's..??
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sickhp
Champion Author San Antonio

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Message Posted: Apr 30, 2013 10:11:49 PM

Drill baby drill in all of America.
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zardoz74
Veteran Author Houston

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Message Posted: Apr 30, 2013 9:20:35 PM

China has enough money to go around for everybody.
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scottyiam
Champion Author Reading

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Message Posted: Apr 30, 2013 9:09:16 PM

good
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ddor
Champion Author Michigan

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Message Posted: Apr 30, 2013 8:44:27 PM

Ok
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jjjleblanc
Champion Author Rochester

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Message Posted: Apr 30, 2013 8:43:06 PM

Suncor added back some shine today.
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Nicoalbum
Champion Author Ottawa

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Message Posted: Apr 30, 2013 7:59:21 PM

DrpepperTX, thanks for your comment
I am convinced that Canadian economy must not dwell on oil extraction only, like now.
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drpepperTX
Champion Author Texas

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Message Posted: Apr 30, 2013 7:48:45 PM

You can hope Nicoalbaum, but I wouldn't bet against your plentiful Canadian oil just yet.

Exxon has just begun the Kearl oil project in Canada.

The Monterey shale play may or may not even get underway as some geological concerns have come in to play that will need some technological tweaking.

And even with the Bakken and Eagle Ford plays the US still needs and consumes plenty of Canadian oil. The Keystone XL still needs completion as the Canadian oil is plentiful and will need transport by the safest and most efficient means, pipelines.
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humblepie
Champion Author Toledo

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Message Posted: Apr 30, 2013 7:37:33 PM

canada just needs more pipelines, north south and east west
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Nicoalbum
Champion Author Ottawa

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Message Posted: Apr 30, 2013 7:34:22 PM

That's what has been expected earlier and might eventually kill the entire oil sands production

[Edited by: Nicoalbum at 4/30/2013 7:35:30 PM EST]
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