Not Logged In Log In   Sign Up   Points Leaders
Follow Us    10:00 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:8,661
Points:1,698,580
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
Profile Pic
52MPG
Champion Author Dayton

Posts:9,597
Points:2,251,575
Joined:Apr 2006
Message Posted: Aug 21, 2013 1:37:50 AM

Economies of scale.
Profile Pic
jrs4125
Champion Author Indiana

Posts:4,765
Points:1,093,555
Joined:Sep 2011
Message Posted: Aug 21, 2013 1:19:01 AM

ok
Profile Pic
TruthMatters
Champion Author New Jersey

Posts:3,620
Points:986,765
Joined:Oct 2011
Message Posted: Aug 20, 2013 9:48:35 PM

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

Posts:4,711
Points:1,419,985
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.
Profile Pic
doctorindyj
Champion Author Santa Fe

Posts:4,803
Points:1,304,785
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.
Profile Pic
eomc17
Champion Author Tucson

Posts:2,194
Points:156,300
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.
Profile Pic
eomc17
Champion Author Tucson

Posts:2,194
Points:156,300
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.
Profile Pic
scu227
Champion Author New Haven

Posts:6,674
Points:1,282,155
Joined:Feb 2011
Message Posted: Aug 20, 2013 8:26:04 AM

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

GREEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEED !!!!!!!
Profile Pic
dandvicb
Champion Author Bridgeport

Posts:2,849
Points:1,532,370
Joined:Jul 2004
Message Posted: Aug 20, 2013 6:28:48 AM

Pass along the savings????

Not
Profile Pic
epf
Champion Author Grand Rapids

Posts:8,670
Points:2,399,045
Joined:May 2004
Message Posted: Aug 20, 2013 5:35:20 AM

Good news for Canada I assume?
Profile Pic
pricewar
Champion Author Ogden

Posts:4,327
Points:785,980
Joined:Jul 2012
Message Posted: Aug 20, 2013 3:30:25 AM

Better technology every day
Profile Pic
iFueler
Champion Author Durham

Posts:74,468
Points:686,300
Joined:Nov 2012
Message Posted: Aug 20, 2013 2:51:23 AM


     interesting
Profile Pic
MrLefty0706
Champion Author Chicago

Posts:3,722
Points:858,810
Joined:Apr 2012
Message Posted: Aug 20, 2013 1:39:07 AM

So prices should come down?
Profile Pic
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?
Profile Pic
GSKHY
Champion Author Montreal

Posts:2,288
Points:543,730
Joined:Jan 2013
Message Posted: Aug 20, 2013 12:27:47 AM

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

Posts:5,309
Points:1,191,915
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.
Profile Pic
Vetteblu
Champion Author Denver

Posts:4,731
Points:1,251,750
Joined:Oct 2010
Message Posted: Aug 20, 2013 12:15:43 AM

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

Posts:54,961
Points:2,883,740
Joined:Mar 2006
Message Posted: Aug 20, 2013 12:13:48 AM

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

Posts:8,661
Points:1,698,580
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