Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Posted: Mon Jan 09, 2006 9:11 pm Post subject: Re: Canadians to Sit Peak Oil Out
Considering your weak ass debating skills and grade school level understanding of the subject and your willingness to make completely false and unsubstantiated claims....You should probably not say anything at all to him. _________________ "Battle not with monsters, lest ye become a monster, and if you gaze into the
Abyss, the Abyss gazes also into you."
Ammo at a gunfight is like bubblegum in grade school: If you havent brought enough for everyone, you're in trouble
Posted: Tue Jan 10, 2006 12:36 pm Post subject: Re: Canadians to Sit Peak Oil Out
Canada exports and imports oil. It is easier to import oil in the East, than carry it from the West. Its an intersting fact.
Other than that tell your friend how much polution producing oil from tar sands causes; I find that to be an eye opener for most people.
Joined: Dec 04, 2004 Posts: 2337 Location: perpetual state of exhaustion
Posted: Sun Mar 05, 2006 12:16 am Post subject: Canada now biggest exporter of oil to US
"Canada has become the biggest exporter of oil to the United States with the re-opening of a pipeline from Alberta to Oklahoma.
Crude oil from Alberta's tar sands began flowing this week from the Calgary, Alberta-based Enbridge Corp.'s facility through a 650-mile stretch of steel from Chicago to Cushing, Okla.
For years the pipe, which used to be owned by BP, carried Gulf of Mexico crude to northern markets, but as the Gulf supply dwindles, the crude is flowing in a different direction, the Houston Chronicle reported Saturday.
The line has an initial capacity to transport 125,000 barrels of oil a day, but can be expanded easily, the report said.
Exxon Mobil is also working on a pipeline reversal that would bring Canadian crude down to Gulf Coast refiners instead of flowing Gulf oil north to Midwestern markets.
Canada outranks Mexico, Venezuela and Saudi Arabia as oil exporters, and will likely double its oil production in the next decade, thanks to production from the oil sands."
Not sure know how credible these guys are but interesting if true or (iit).
Posted: Thu Mar 30, 2006 3:28 am Post subject: New sources of oil coming. Canada beats Saudi Arabia
are we saved..............again?
"How many times have we heard about the dangers of American dependence on Middle Eastern oil? Well, prepare yourself for a few statistical surprises. The latest figures from the U.S. government's Energy Information Administration are quite interesting. Those figures show that in January of this year, 74 percent of our oil imports came from just five countries, the same countries that were our top sources of foreign oil throughout 2005.
Granted, there's no surprise in learning that three quarters of our foreign-produced oil comes from just a few suppliers, but would you care to guess which countries are in that top-five list? Let's start at the bottom and work up. Last year we brought in almost 419 million barrels from Nigeria, and 450 million from Venezuela. Number three fits our common understanding - the "oil rich sheiks" of Saudi Arabia sold us 556 million barrels of crude. But number two starts to skew our stereotypes. In 2005, the U.S. imported just over 600 million barrels from Mexico.
Sitting at that number one spot, where it has been for a number of years, comes that vast repository of petroleum wealth, Canada. (Eh? What's that you say?) It's true.
Joined: Jun 02, 2004 Posts: 1078 Location: Bristol, UK
Posted: Thu Mar 30, 2006 3:41 am Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
This really shouldn’t be news to anyone who thinks they know anything about oil… And it doesn’t make a blind bit of difference is Canada is the single biggest contributor to the world’s oil supply. To control the market you don’t need to be a big player – you just need to control the margin. Since there little or no slack in the system any and all producers ‘control’ the market.
There is also the small point of extraction costs in Canada being approximately 10 times higher than those in the Middle East. _________________ "Everything is proceeding as I have foreseen." The Emperor (Return of the Jedi)
The Oil Drum: Europe
Posted: Thu Mar 30, 2006 9:09 am Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
I think some are beginning to get a clue. Check out this Rigzone article:
Quote:
The Wall Street Journal suggests that peak oil is not truly happening. "The surging interest in Canadian oil sands is stark evidence that the world isn't about to run out of oil. Instead, it is running low on readily accessible light, sweet crude -- oil that flows like water, has few impurities and can be easily turned into gasoline. As the good stuff gets scarce, Big Oil is turning its attention and pouring money into extra-heavy crude, such as the giant deposits near Fort McMurray and another similar one in Venezuela."
We were proponents of the same concept since we wrote "Successful Energy Sector Investing," in 2001. But five years later, a great deal has happened that has led us to a new perspective, that of joining the camp that believes that oil is perhaps at the start of its final stage as the primary fuel on planet Earth.
Why? The difference between oil, and cheap oil:
Quote:
According to the Journal: "heavy oil has big economic and environmental drawbacks. It costs more to produce and takes more energy to turn into gasoline than traditional light oil. Recovering and processing Fort McMurray's heavy crude releases up to three times as much greenhouse gas as producing conventional crude. And upgrading it into refined products, such as gasoline or diesel, will require a gigantic investment to retool global refineries."
The extraction process is so labor intensive and requires so much heat, in order to extract the oil from the tar sand that "Total briefly floated the idea of building a nuclear-power plant" in Fort Mc Murray.
In other words, just because new oil is likely to be more plentiful, processing costs will likely keep prices higher than in the past, and the toll on the environment won't be fully known for years to decades.
Indeed, some effects are already visible as "Canada, which exports more oil to the U.S. than any other country, already is having trouble meeting its pledge to cut CO2 emissions largely because of its mushrooming heavy-oil production. By 2015, Canada's Fort McMurray region, population 61,000, is expected to emit more greenhouse gases than Denmark, a country of 5.4 million people."
Even more alarming is this: "In northern Alberta, the oil-sands boom is remaking the landscape. The mining operations have clear-cut thousands of acres of trees and dug 200-foot-deep pits. The region is dotted with large man-made lakes filled with leftover waste from the mining operations. To chase off migratory birds, propane cannons go off at random intervals and scarecrows stand guard on floating barrels."
_________________ "The problems of today will not be solved by the same thinking that produced the problems in the first place." - Albert Einstein
Posted: Thu Mar 30, 2006 9:58 am Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
Add in that most of the crude is not accessable by strip minining...
Yet Shell is making huge investments in oil that will have to be produced in Situ...
Banking on THAI?
Keeping production just at this level will require injections of capitol, and thus partialy "justify" the huge profits that "Big Oil" is making....to what extent I don't know...and certainly 66 dollars a barrel is a function of GREED, fake scarcity (at least for now) and Speculation....
It is a "Gift" to petroleum companies from the invasion of Iraq and the fake terror war....let's see if they use it wisely... _________________ Eickhorn Daggers!
www.pistolanddagger.com
Joined: Jun 18, 2005 Posts: 3738 Location: In a van down by the river
Posted: Thu Mar 30, 2006 10:25 am Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
Great article Leanan
Rigzone is not a bunch of PO nuts and conspiracy wackos like many of the people here at PO.com.
The article points out the Emperor has no clothes, Oil reserves were always counted in terms of light sweet crude and easily recoverable oil then the game was changed and oily sand is no counted as oil.
And the mouth piece for the free market and modern capitalism says that PO is a myth "look at all the oil (dirt) in Canada". To skip over the fact that it is now necessary to count the tar sands as oil is to miss the fundamental point of PO.
Posted: Thu Mar 30, 2006 11:26 am Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
Thanks Leanan. This statement alone is going to send shudders down some new backs. Like Eli suggested, the Rigzone is not Mother Earth News.
Quote:
. . . has led us to a new perspective, that of joining the camp that believes that oil is perhaps at the start of its final stage as the primary fuel on planet Earth.
Question: When is it fair to say 'we are (or will soon be) running out of oil'? From a strickly a geologic-based chronology, that statement seems fair. _________________ ree rah rip ram. sunofabitch godamn. hidey didey christ almighty. rah rah crap
Posted: Thu Mar 30, 2006 11:54 am Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
Quote:
Already the battle lines have been drawn. [Alberta's energy minister, Greg Melchin, says oil-sands development creates a minimal environmental disturbance that is outweighed by the opportunities and jobs created. "It's worth it. There is a cost to it, but the benefits are substantially greater," he said.]
Yeah another 100 more millionares vs another destroyed environment all for what will have minimal impact on the price of oil. Sounds worth it to me. Excuse me Minister, what are you doing about your pollution levels?
Joined: Aug 11, 2005 Posts: 252 Location: Vancouver, BC
Posted: Thu Mar 30, 2006 12:31 pm Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
Hmm...are you sure that it costs 10x more in Canada? I can see that for the oil sands - but the oil sands are not Canada's only source of oil. At least, last time I went to work with my cousin who owns an oil equipment company that was the case. That was years ago so I could be wrong...
Joined: Oct 12, 2005 Posts: 281 Location: Washington State, USA
Posted: Thu Mar 30, 2006 12:34 pm Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
Canadian oil sands production now is about 1 million bbl/day. Optimistic forecasts project increasing that to something in the 3 million bbl/day range by 2015. That is if they can also build pipelines to get the product out of the remote areas to market. Bottlenecks in pipelines are already a constraint.
Even if Canada succeeds in expanding production, refining and pipeline capacity up to 3 million bbl/day, or even more, this is NOT Saudi Arabian oil production levels. In fact, adding 3 million bbl/day by 2015 will probably not even offset depletion rates from conventional oil fields.
Canadian oil sand helps, but it is not a solution to Peak Oil. People who don't do the math seem to want to believe " Don't worry about Saudi Arabia, Canada will rescue us! De...nile again!
Quote:
US Midwest bottlenecks hit Canada oil producers
Mon Mar 27, 2006 12:36 PM EST
NEW YORK (Reuters) - Although the price of oil is comfortably above $60 per barrel on futures markets, producers in Canada and parts of the U.S. Midwest have been forced to accept discounts of up to $30 a barrel at times due to a regional supply glut caused by a lack of access to markets.
Rising output from Canada's oil sands and increased production from U.S. states such as North Dakota and Montana are competing for limited space on pipelines carrying crude oil to markets in the U.S. heartland. Some oil companies are slashing prices to get their product to market while other smaller U.S. firms have decided to shut off production rather than accept sharp price cuts.
...skip
""There's just not enough takeaway capacity for that Canadian production so it's being bid against the sours and the heavies out there in order to get pipeline capacity," said Gary Heminger, the head of Marathon Oil's downstream business at a recent energy conference.
...skip
Strong growth in Canadian supplies is expected to continue for the next decade even as conventional oil production in western Canada declines. The Canadian Association of Petroleum Producers says that oil sands output could double from 2004 levels of 1 million bpd as soon as 2010, and reach 3 million bpd by 2015.
Producers hope growing awareness of the regional oversupply of oil will spur new investments in pipelines and refining capacity.
"Pipeline operators are now scrambling to add capacity on existing networks as well as open up nontraditional markets in the United States for Canadian oil.
...skip
Enbridge's $1 billion Southern Access project should add 400,000 bpd of capacity to its existing U.S. pipeline network between Alberta and the Chicago area. TransCanada Pipelines plans to spend $2.1 billion on its new 435,000 bpd Keystone pipeline that will stretch down from Alberta to the major crude refining and shipping hubs in southern Illinois.
Both projects are scheduled to be completed by 2009. Two other projects by Enbridge and Exxon Mobil to reverse existing pipelines so they can send Canadian oil south from Illinois to Oklahoma and Texas will open up new markets for Canadian oil.
Link-Pipeline bottlenecks _________________ An expert is someone who has made every mistake possible in their field and learned how to prevent them.
Joined: Oct 12, 2004 Posts: 1647 Location: Davis, California
Posted: Thu Mar 30, 2006 3:03 pm Post subject: Re: New sources of oil coming. Canada beats Saudi Arabia
clv101 wrote:
And it doesn’t make a blind bit of difference is Canada is the single biggest contributor to the world’s oil supply.
Err, Canada only exports 1/3rd to 1/4th of what Saudi Arabia does.
In terms of total exports, Saudi Arabia towers over the world. However, what that article said was that the US buys more oil from Mexico and Canada than from Saudi Arabia. _________________ Joseph Stalin "It is enough that the people know there was an election. The people who cast the votes decide nothing. The people who count the votes decide everything. "
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ree rah rip ram. sunofabitch godamn. hidey didey christ almighty. rah rah crap 
