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.
Tertzakian: Oilsands being claimed by cash-rich and resource-hungry Asia
By Peter Tertkzakian, Calgary Herald November 29, 2010
Alexander Dumas, 19th century French author of classics such as The Three Musketeers, offered a simple MBA formula, “Business? It’s quite simple. It’s other people’s money.”
Husky approves new oilsands project
Monday, November 29, 2010
CBC News
Calgary-based Husky Energy made three major announcements Monday, saying it has given the go-ahead for a $2.5-billion oilsands project, is cancelling plans to sell off its operations in southeast Asia and has acquired oil and gas properties in western Canada for $860 million.
The company said its board has agreed to proceed with the first phase of its Sunrise oilsands project in northern Alberta. That is due to produce 60,000 barrels per day when completed.
Husky Energy 3-month chartHusky Energy 3-month chart
Madagascar Oil brings tar sands project to London market
The Voahary Gasy, an alliance of Madagascan environmental groups, complains that the government has released very little information
* Tim Webb
* The Guardian, Monday 29 November 2010
* Article history
Poor children in Madagascar forced to scavange on rubbish tip Children forced to scavenge from a rubbish tip in Madagascar. The IMF ranks Madagascar as the 170th poorest among 182 countries. Photograph: Siphiwe Sibeko/Reuters
The Whole World is Downstream
Community members say negative impacts of the tar sands have a global reach
by Sandra Cuffe
November 28, 2010
Vancouver Media Co-op
Community members impacted by tar sands development came together in Edmonton this weekend to make it explicit that the tar sands isn't just an issue in Alberta, or even just in Canada. Climate justice activists have long made the point that the tar sands are a leading driver of emissions worldwide.
Thailand's oil giant buys stake in Statoil Canada oil sands project
MCOT.net
BANGKOK, Nov 23 - PTTEP Netherland Holding Limited (PTTEP NL) on Monday signed a partnership unit sale agreement with Statoil Canada Ltd and Statoil Canada Holdings Corp (subsidiaries of Statoil ASA or Statoil) for a 40 per cent stake in the Kai Kos Dehseh Oil Sands Project (KKD) in Canada.
PTTEP NL is a subsidiary of Thailand's PTT Exploration and Production, and Statoil a world leader in heavy oil and deep water exploration and production.
Statoil May Sell U.S. Gulf Assets After Canada Oil Sands Stake
November 23, 2010, 8:40 AM EST
By Marianne Stigset
Nov. 23 (Bloomberg) -- Statoil ASA, Norway’s biggest energy company, said it may divest holdings in the Gulf of Mexico after selling a stake in its oil sands project in Canada for $2.28 billion to PTT Exploration & Production Pcl.
Ottawa targets oil-sands opponents
'Advocacy strategy'
By Mike De Souza, Postmedia News November 22, 2010
Three major departments in the federal government have been co-ordinating a communications strategy with Alberta and its fossil-fuel industry to fight international global-warming policies that "target" oil-sands production, newly released federal documents reveal.
Tailings pond passes second inspection
Toxic sludge leak story discredited
By Dan Healing, Calgary Herald November 16, 2010
CALGARY - A Tuesday morning tour of an oilsands tailings pond that CBC News claimed appeared to be leaking toxic sludge confirms that it is not, according to Alberta Environment.
"It confirmed what the ERCB (Energy Resources Conservation Board) confirmed (Monday), that all is being done as required in their approval and there is no release," said department spokesman Mark Cooper in an interview.
Oilsands execs set to hear from U.S. groups
Updated: Sun Nov. 14 2010
The Canadian Press
CALGARY — Oilsands executives are heading to three U.S. cities this week to hear what environmental groups, business leaders, academics and others have to say about an industry heavily criticized for its environmental impact.
The Canadian Association of Petroleum Producers has been holding roundtable discussions in several Canadian cities since the summer.
OPTI Canada Shares Drop As Slower Long Lake Growth Seen In 2011
By Edward Welsch
Published November 16, 2010
CALGARY -(Dow Jones)- Shares of oil sands company OPTI Canada Inc. (OPC.T) declined sharply Tuesday after its partner in its Long Lake oil sands project said production next year would be even lower than expected.
