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Oilsands doomed ?
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maryjane48
- Buddha of the Board
- Posts: 17124
- Joined: May 28th, 2010, 7:58 pm
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Rosemary1
- Generalissimo Postalot
- Posts: 984
- Joined: Jan 24th, 2013, 2:47 pm
Re: Oilsands doomed ?
Also an incentive for Canada to find other markets and develop its own refineries to create more jobs in Canada, and use economic boost to simultaneously increase investment in alternative energy resources for future.
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bob vernon
- Lord of the Board
- Posts: 4426
- Joined: Oct 27th, 2008, 10:37 am
Re: Oilsands doomed ?
In a conversation with an Alberta oil executive over a few drinks in front of the fireplace last Christmas, I learned that Syncrude, one of the oldest players in the oilsands, with a low amount of infrastructure to pay off and the best location, has a cost of production near $50 (US) a barrel. Newer players in the oilsands are up around $70 (US) per barrel. The price will have to rise a lot in order to go back to the good old days of money flowing into Alberta. NDP or Conservative, the government there is cash strapped cuz none of the oilsands players is paying any royalties and taxes right now.
With the world moving a big way into renewable energy, I wonder if the price will ever rise enough. This past week, another study done on climate change has the world climate rising to about 5 degrees C warmer than pre-industrial average by the year 2100. We've already done 1.2 degrees of that and we are still pumping CO2 at a fast rate. The world is moving to renewables and carbon taxes. California is in year 6 of a drought. They've just about depleted the aquifer by pumping out most of the underground water. Will it ever go back to having wet winters? Or will it turn into a desert? We see larger and larger forest fires every year. And still the deniers don't see the light. And one was elected president in the US.
With the world moving a big way into renewable energy, I wonder if the price will ever rise enough. This past week, another study done on climate change has the world climate rising to about 5 degrees C warmer than pre-industrial average by the year 2100. We've already done 1.2 degrees of that and we are still pumping CO2 at a fast rate. The world is moving to renewables and carbon taxes. California is in year 6 of a drought. They've just about depleted the aquifer by pumping out most of the underground water. Will it ever go back to having wet winters? Or will it turn into a desert? We see larger and larger forest fires every year. And still the deniers don't see the light. And one was elected president in the US.
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hobbyguy
- Buddha of the Board
- Posts: 15050
- Joined: Jan 20th, 2011, 8:10 pm
Re: Oilsands doomed ?
If the Bloomberg forecast is correct, electric vehicles will be 35% of the new vehicles market in a decade. Mainstream in 15 years. Their writer forecasts an oil price crash to $20 if things progress that way.
A lot of ifs and buts, however I sure hope Bloomberg is correct.
The age of oil is far from over, but the faster we can get there, the better.
A lot of ifs and buts, however I sure hope Bloomberg is correct.
The age of oil is far from over, but the faster we can get there, the better.
The middle path - everything in moderation, and everything in its time and order.