Canadians: PREPARE TO BE LIBERATED
 

yo yo yo

wassup, dj oilembargo here spinnin all your favorite crude and viscous tracks....

(said with a Chris Sheppard bogus accent)

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EIA: Canada's oil reserves 2nd only to Saudi Arabia

By Campion Walsh
Dow Jones Newswires
WASHINGTON 05 02 03
Petroleumworld.com

EIA: Canada's Oil Reserves 2nd Only To Saudi Arabia

The U.S. government said Thursday Canada holds the world's second-largest oil reserves, taking into account Alberta oil sands previously considered too expensive to develop.

The Energy Information Administration, the statistical wing of the U.S. Department of Energy, has included recent private sector estimates that an additional 175 billion barrels of oil could be recovered from resources known to exist in Western Canada since the 19th Century.

At a briefing on this year's EIA International Energy Outlook, EIA Administrator Guy Caruso cited a December report in the Oil and Gas Journal that raised Canada's proven oil reserves to 180 billion bbls from 4.9 billion bbls, thanks to inclusion of the oil sands - also known as tar sands - now considered recoverable with existing technology and market conditions.

"Canada will be producing a lot of oil from the development of these tar sands, but the quality of those reserves differs substantially from the Saudi reserves in terms of cost and ability to bring...the productive capacity on in a meaningful way," Caruso said.

"There is a difference in the absolute amount versus the ability to turn that into productive capacity," he said.

The latest estimates put Canada ahead of war-torn Iraq, which the EIA estimates holds 112.5 billion bbls and is constrained from raising production for entirely different reasons. The U.S. agency estimates Saudi Arabia's recoverable oil reserves at 264 billion bbls.

The EIA projects Canadian oil sands could produce 2.2 million barrels a day by 2025 compared with the current level of about 700,000 b/d, which already represents more than a fourth of total Canadian output of 3.1 million b/d.

Canadian Industry Sees More Oil Sands Potential

The Canadian Association of Petroleum Producers estimates current projects will raise Alberta oil sands production to 1 million b/d this year, and continuing development will raise it further to 1.8 million b/d by 2010, according to CAPP Vice President Greg Stringham.

Current oil sands projects are economically viable at crude oil prices of $18-$20 a barrel, though the quality of oil produced can vary according to whether production comes from "in situ" reserves that require drilling assisted by steam-injection pressure or from simple mining, Stringham said.

CAPP's own estimate of Canada's recoverable oil sands is 315 billion bbls - 20% from mining and the rest from steam-assisted drilling.

"There's clearly a lot of the stuff in the ground," said David Pursell, oil-sector analyst with Houston-based investment bank Simmons & Co. But the commercial viability of the reserves is sensitive to oil prices, technology and public policy, Pursell said.

Among political complications are the additional carbon dioxide emissions from production and processing of the tarry substance. Stringham said despite Canada's ratification of the Kyoto Protocol limiting carbon dioxide emissions, the industry expects the international agreement to add only 25 cents to 30 cents a barrel to development costs through 2012.

Oil sands development, which relies heavily on natural gas, could benefit from development and pipeline transport of large Arctic gas reserves in Alaska's North Slope and Canada's Mackenzie Delta, which under current proposals could be on-stream by 2010, the CAPP official said.

While cautious about the new reserve estimates, Pursell said oil sands may be "a good contrarian investment" at a time most energy investors are focused on natural gas. "It's a good potential source of hydrocarbons in this hemisphere," he said.
The EIA report is availabe on the Internet at: www.eia.doe.gov/oiaf/ieo/index.html

Well if the conspiracy logic holds true, Canada is doomed

The few players in the Oilsands...(Suncor...) are contemplating pulling back their investments and upgrade plans because of uncertainty over Kyoto and the price of oil dropping significantly now that there will be all that Iraqi oil and new Russian oil reserves coming to market going forward. I would get the hell out of those stocks / resource mutual funds.

Alberta would give up anything to be a State.

Maybe the british will team up with the yanks for another tag team debut and get their revenge on the french.

The French do have a couple of big oil players (Elf) that may be in need of "liberation".

hurry up and decriminalize.

LOL your such a one track mind! :thumbsup

I mean the Quebec French.. a lot of Brits are still pretty pissed off at what they are doing to the country after they spared their Quebecois lives back in the day.

With any luck the UN will air drop rations of munchies, pizza, calzone and beers when the bombing starts.

Um... I seriously doubt that, speaking as an Albertian.
Zoink

The poor and crying Canadian ppl is opressed by their commie regime which is populated by cowards and criminals. Let's kick some ass and free the starving canadian nation...

And then I haven't named all terrorist cells supported by the Canadian government and all weapons of massdestruction hidden in the forests of Manitoba. We know that god don't like canadians and frensh ppl anyhow so all free people; unite to free our neighbour to the north.

Oh. Well they do have an abundance of deep fryer grease for all the poutine and french fries at the LaFleurs hot tog stands that surround the Plains of Abraham. You could liberate those?

I'll be in part of a special UN task force in charge of liberating all the french females aged 18-23 and making sure they are not harmed by any stray bombs. :Graucho

French sluts are a part of our Canadian heritage, like it or not.

lol

I seriously doubt if an invasion would ever be contemplated. The US and Canada have too much of a symbiotic relationship. Anything bad happening to Canada would very badly affect US businesses, just as anything bad happening to the US economy trickles and riffles up to Canada as well.

I just figured it out... Thats why they call the Edmonton Oilers the "oilers"... Because of all the oil!

Funny thing here, Canada and Iraq have something in common:
both countries have a dicatator that seems to piss Bush off.
Cant wait to be liberated and free of that asshole Cretien!

Bullshit. Canada is too damn big, only reason they failed in 1812 and would fail again.

How many troops and $$ does it take to secure 10 million square kiliometers of country?

Well, you don't need a soldier standing next to every tree! Canada has the same problem the old USSR had: its population and primary infrastructure are all centralized in relatively few urban concentrations. The rest of the country is nearly empty. The US would never invade Canada, but not because of its size.

Part of the Parti Quebecois (the separatists that came to power in 1976) agenda was to remove Quebec from NORAD, and on the eve of the 1976 election - the US massed some troops near the border with Quebec to send a chilling warning that they would not allow NORAD to be weakened as this would leave a huge vulnerability to early warning of any Soviet missles coming over the North Pole and down onth the NorthEast US. They sent a noit too subtle message.

I'm sure it was a bluff. And what was "some troops"? 100? 1000? 10,000? is there a link on this somewhere?

As not only an Albertan, but as someone who worked for about 10 different oil companies, I can totally say this it true. I remember writing up statements about all the oil wells (fully useable) that were capped simply because there was no market demand for them. My family (distant relatives) have oil on their land, and it's unbelievable the amount of wells just on their property. They have about 5000 acres or so, with over 20 wells on their property alone.. think about that a minute.

And as far as Alberta giving anything to be a state, I don't know how true that is, however I *DO* know that Alberta is pretty disgusted with the rest of the country and having to pay off THEIR debt.. them being in the black and all and Chretien continually begging more and more of the money that they make (without even having a provincial tax, no less!), I think they'd be about ready to form their OWN country if it came down to it. Goodness knows they have the resources.

The invasion has already begun my friend and the war isnt for land....or even resources at this point....its for your mind.

Alberta has basically decriminalized marijuana use, man. Trust me, I grew up there. I remember friends and whatnot being busted by police with pot, the police would confiscate it and send them on their way. Hell, you can't even be charged with a criminal offense in Alberta if you have less than an ounce, unless it's split into baggies, then it's trafikking. Anything under and ounce is a fine basically.

How about we just invade Quebec

We will put in a big theme park called Le Cannuckland

Any nice brits in here which can enlight us of their point of view. Is canada a traitor or just a nice source of wood and maple syrup?