Oil Sands Truth: Shut Down the Tar Sands

Energy

Energy and how it is captured and consumed is barely viable in tar sands production. While the amount of oil in places such as the tar sands in Alberta or the Orinoco Belt in Venezuela may have deposits of similar size to the reserves of countries such as Saudi Arabia or Iraq, the return of new energy after expending energy in production is not even close. In Iraq, the process of using one barrel of oil generates 100 new barrels. In the tar sands, estimates of 3 to 1 and even as low as 1.5 to 1 have been made. Offsetting the net energy loss would require minimally 25-30 tar sands facilities for one Saudi plant operating at the same capacity.

Madagascar Oil standoff with island government continues (corporate report)

[For background to this story, check here:
http://www.mediacoop.ca/story/devastation-madagascar/5524 ]

Madagascar Oil standoff with island government continues
Tuesday, February 08, 2011
by Andre Lamberti

Madagascar Oil’s standoff with the government is still continuing and the group said it remains extremely concerned by the delays that have been incurred since the initial meeting on December 16 2010 in which the island’s Ministry of Mines and Hydrocarbons (MMH) said it was interested in buying the company's licences.

The stock remains suspended at 75 pence.

Opti-Nexen's Long Lake plant not producing targets...

Long Lake oil sands output may lag targets

Thu Feb 10, 2011
By Scott Haggett and Jeffrey Jones

CALGARY, Alberta, Feb 10 (Reuters) - Nexen Inc, the operator of the Long Lake oil sands project, warned that output may fall short of forecasts because of operational problems that analysts say may take heavy spending to fix.

Nexen shares dropped more 3 percent on Thursday when it said January output fell at the underperforming oil sands project in the Canadian province of Alberta.

Exporting [tar sands] energy [through Thunder Bay].

Exporting energy
2011-02-07
By Jodi Lundmark,
tbnewswatch.com

According to the president of the Oil Sands Developers Groups, Thunder Bay's port and rail lines make the city an important gateway for oil exports.

It might surprise people to know that more than 21 per cent of the United States’ crude oil comes from Canada, said the president of the Oil Sands Developers Group.

Broker makes financial predictions in tar sands

Investing In the Oil Sands: 4 Stocks
Frank J. Constantino
February 13, 2011

It seems everyone, including investors, are coming to grips with the fact that higher crude oil prices are here to stay. The fact is, the U.S., China, and other world economies have a insatiable demand for oil. While we are dependent on the Middle East for most of our oil, there are alternatives. The Canadian oil sands region is in the Alberta region of Canada. This massive area of oil reserves is second in size only to Saudi Arabia.

ISRAEL: A controversial shale project and energy security

ISRAEL: A controversial shale project and energy security
February 6, 2011
LA Times

The suspension of Egyptian gas supply to Israel has lighted a fire under the feet of Israeli officials, businessmen and shareholders trying to assess how events in Egypt will affect Israel's energy economy.

Initial assessments that it is in Egypt's interests to keep the lucrative gas deals with Israel may prove right when the dust settles. But the shake-up in Egypt is a wake-up call for Israel, too.

Energy: Demand for renewables will be slow, says Saudi oil baron

Fossil fuels will dominate

Energy: Demand for renewables will be slow, says Saudi oil baron

Lynn Moore
The Province
September 14, 2010

Fossil fuels will continue to rule the global energy mix for the next 30
to 40 years, the president and CEO of Saudi Aramco told the World Energy
Congress during Monday's keynote address.

The growth of renewable energy sources and more energy efficiency
technologies will be "slow and uneven" due to a range of factors including
consumer acceptance issues, Khalid Al-Falih said.

OPTI 'going to zero,' RBC says

OPTI is the Israeli Ormat offshoot, designed to bring "cogeneration" (burning dirty waste gunk for 'in-house' energy) to Canada, ala to make it commercially viable to do the same to a similar oilshale deposit in the Negev Desert.

--M

OPTI 'going to zero,' RBC says
BOYD ERMAN
Globe and Mail Update
Posted on Wednesday, February 2, 2011

OPTI Canada's hiring of Lazard Frères & Co. is a sign that the oil sands developer is "preparing for either a debt restructuring or a bankruptcy proceeding" according to RBC Dominion Securities.

Suncor recording great profits

Higher Oil Sands, Downstream Earnings Benefit Suncor
by Allen Good | 02 Feb 11
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National Post: Egypt Crisis opens door for Tar Sands?

Egypt crisis opens door for oil sands

John Ivison, National Post · Thursday, Feb. 3, 2011

The escalating tension in Egypt has provided Stephen Harper with an unexpected opportunity to push for a guarantee that there will be no border tax on Canada's oil sands when he visits U.S. President Barack Obama in Washington on Friday.

The two men are expected to sign a major security and trade deal, which will likely be long on promises and short on specifics.

Energy regulator okays Alberta’s ninth open-pit oil sands mine (Joslyn Mine)

Energy regulator okays Alberta’s ninth open-pit oil sands mine
JOSH WINGROVE
Edmonton— Globe and Mail Update
Published Thursday, Feb. 03, 2011

Despite mounting criticism from academics and the federal government over Alberta’s patchwork environmental monitoring regime, a provincial energy regulator approved the province’s ninth open-pit oil sands mine last week.

The approval is based on data from the Regional Aquatics Monitoring Program, an industry-led body that has been the subject of extensive, pointed criticism from three separate reports over the past two months.