Not Logged In Log In   Sign Up   Points Leaders
Follow Us    2:39 AM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil sands crude not as expensive to produce as it used to be Back to Topics
Nicoalbum
Champion Author
Ottawa

Posts:10,038
Points:2,004,770
Joined:Jan 2010
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

Posts:10,646
Points:2,553,725
Joined:Apr 2006
Message Posted: Aug 21, 2013 1:37:50 AM

Economies of scale.
jrs4125
Champion Author Indiana

Posts:4,993
Points:1,377,365
Joined:Sep 2011
Message Posted: Aug 21, 2013 1:19:01 AM

ok
TruthMatters
Champion Author New Jersey

Posts:3,681
Points:1,231,960
Joined:Oct 2011
Message Posted: Aug 20, 2013 9:48:35 PM

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

Posts:5,748
Points:1,722,390
Joined:May 2010
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

Posts:5,294
Points:1,581,975
Joined:Nov 2009
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

Posts:2,218
Points:158,010
Joined:Mar 2007
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

Posts:2,218
Points:158,010
Joined:Mar 2007
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

Posts:8,926
Points:1,584,180
Joined:Feb 2011
Message Posted: Aug 20, 2013 8:26:04 AM

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

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

Posts:3,442
Points:1,810,805
Joined:Jul 2004
Message Posted: Aug 20, 2013 6:28:48 AM

Pass along the savings????

Not
epf
Champion Author Grand Rapids

Posts:9,728
Points:2,700,470
Joined:May 2004
Message Posted: Aug 20, 2013 5:35:20 AM

Good news for Canada I assume?
pricewar
Champion Author Ogden

Posts:5,393
Points:1,106,005
Joined:Jul 2012
Message Posted: Aug 20, 2013 3:30:25 AM

Better technology every day
iFueler
Champion Author Durham

Posts:76,700
Points:1,012,875
Joined:Nov 2012
Message Posted: Aug 20, 2013 2:51:23 AM


     interesting
MrLefty0706
Champion Author Chicago

Posts:4,792
Points:1,185,835
Joined:Apr 2012
Message Posted: Aug 20, 2013 1:39:07 AM

So prices should come down?
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: Aug 20, 2013 12:51:19 AM

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

Posts:3,333
Points:865,755
Joined:Jan 2013
Message Posted: Aug 20, 2013 12:27:47 AM

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

Posts:6,361
Points:1,496,365
Joined:Jun 2011
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

Posts:5,782
Points:1,552,815
Joined:Oct 2010
Message Posted: Aug 20, 2013 12:15:43 AM

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

Posts:65,141
Points:3,185,745
Joined:Mar 2006
Message Posted: Aug 20, 2013 12:13:48 AM

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

Posts:10,038
Points:2,004,770
Joined:Jan 2010
Message Posted: Aug 19, 2013 11:35:14 PM

Well, a range between %50 and $90 is meaningless for comparison - too wide
Post a reply Back to Topics