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Author Topic: Oil sands crude not as expensive to produce as it used to be Back to Topics
Nicoalbum
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Ottawa

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Message Posted: Aug 19, 2013 11:34:18 PM

AB’s oil sands, long regarded as an expensive sandbox for energy giants, are more competitive with global sources of crude than recent cost blowouts may lead investors to believe, a survey of 135 global oil and gas companies shows

Worldwide supply costs for oil-weighted companies edged up 7% in 2012 to $99.66, from $92.73 in 2011, on higher reserve replacement costs, according to new research. The supply cost is essentially a break-even price, or the WTI price companies need in order to recover costs, plus earn a 10% return on capital

The report pegs supply costs for oil sands projects in the range of $50 to $90. That compares to the $70 to $90 a barrel needed to blast light, sweet crude through underground fissures in ND’s Bakken shale

There’s a lot of oil sands projects that are being
Visit Financial Post for full article
REPLIES (newest first) Post a Reply
52MPG
Champion Author Dayton

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Message Posted: Aug 21, 2013 1:37:50 AM

Economies of scale.
jrs4125
Champion Author Indiana

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Message Posted: Aug 21, 2013 1:19:01 AM

ok
TruthMatters
Champion Author New Jersey

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Message Posted: Aug 20, 2013 9:48:35 PM

Good news to all of us oil consumers
Wanda127
Champion Author Florida

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Message Posted: Aug 20, 2013 11:21:32 AM

This sounds good. Now if Obama would let the U.S. have a pipeline from Canada maybe it would help us.
doctorindyj
Champion Author Santa Fe

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Message Posted: Aug 20, 2013 10:55:27 AM

Makes sense, the more you do it the more experience you get and the more you see ways to cut back on expenses. This could be hopeful if prices on oil drop they may still be able to produce and still make a slim profit and not just abandon the process.
eomc17
Champion Author Tucson

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Message Posted: Aug 20, 2013 9:38:23 AM

I wonder what the supply costs were in 2002, when barrels of oil cost around 35$. These figures in this report simply cannot be true.
eomc17
Champion Author Tucson

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Message Posted: Aug 20, 2013 9:32:35 AM

This is not leading to any savings whatsoever for the drivers in this country. 107$ for WTI crude is completely outrageous and pure price manipulation by speculators our corrupt government refuses to regulate.
scu227
Champion Author New Haven

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Message Posted: Aug 20, 2013 8:26:04 AM

So who is pocketing the savings ?? Not the consumer !!!!

GREEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEED !!!!!!!
dandvicb
Champion Author Bridgeport

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Message Posted: Aug 20, 2013 6:28:48 AM

Pass along the savings????

Not
epf
Champion Author Grand Rapids

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Message Posted: Aug 20, 2013 5:35:20 AM

Good news for Canada I assume?
pricewar
Champion Author Ogden

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Message Posted: Aug 20, 2013 3:30:25 AM

Better technology every day
iFueler
Champion Author Durham

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Message Posted: Aug 20, 2013 2:51:23 AM


     interesting
MrLefty0706
Champion Author Chicago

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Message Posted: Aug 20, 2013 1:39:07 AM

So prices should come down?
Blue_Cruzer
Champion Author Lexington

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Message Posted: Aug 20, 2013 12:51:19 AM

So when will the consumer benefit from this?
GSKHY
Champion Author Montreal

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Message Posted: Aug 20, 2013 12:27:47 AM

PROFIT MY DEAR MUST STAY BIG AND BIGGER
jrschl
Champion Author Louisville

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Message Posted: Aug 20, 2013 12:25:09 AM

Tech costs will always go down and help to lower overhead. Doesn't mean we will see the lowered costs.
Vetteblu
Champion Author Denver

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Message Posted: Aug 20, 2013 12:15:43 AM

Who cares! We will still get screwed at the pump anyway!
humblepie
Champion Author Toledo

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Message Posted: Aug 20, 2013 12:13:48 AM

build the xl and lets find out, also drive opec nuts
Nicoalbum
Champion Author Ottawa

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Message Posted: Aug 19, 2013 11:35:14 PM

Well, a range between %50 and $90 is meaningless for comparison - too wide
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