Peak Oil is starting to be understood across a broad spectrum, but the direct connection between peak oil, climate change and the American market-led attempt to squeeze all energy out of Alberta cannot be overstated. The smaller the global supply of oil gets, the more CO2 has been emitted and the more climate change will have advanced. This leads to more interest in the tar sands—because the profit margin goes ever higher the fewer alternatives there are for petroleum. Without Peak Oil bearing down on humanity, no economical reason would exist to produce this energy intensive, low-output petrol.
Exxon joins TransCanada's Alaska pipeline project
Carrie Tait and Claudia Cattaneo, Financial Post
Thursday, June 11, 2009
CALGARY -- The world's largest publicly owned energy company has thrown its weight behind TransCanada Corp.'s effort to build a natural gas pipeline from Alaska North Slope to the rest of the United States, a move which could jam a stake through the heart of a rival pipeline plan and further haunt Canada's stalled Mackenzie Valley pipeline.
FRIDAY 12 JUNE 2009
It's Official - The Era of Cheap Oil Is Over: Energy Department Changes Tune on Peak Oil
by: Michael T. Klare | Visit article original @ TomDispatch.com
High Gas Prices Could Slow Recovery
By CLIFFORD KRAUSS
Published: June 8, 2009
HOUSTON — After just a few months of relief at the pump, cheap gasoline is disappearing.
Gas prices have risen 41 days in a row, to a national average of almost $2.62 a gallon. That is a sharp increase from the low of $1.62 a gallon that prevailed at the end of last year.
Alberta hopes to reap benefits as world focuses on Suncor-Petrocan
By Carrie Tait, Financial Post
May 30, 2009
Canadian energy group cuts output forecast again
Fri Jun 5, 2009 2:37pm EDT
CALGARY, Alberta (Reuters) - Canada's main energy producers group has cut its forecast for oil sands production for the third time in a year, blaming project deferrals and cancellations due to weak oil prices and tight credit markets.
The Canadian Association of Petroleum Producers said it expects oil sands production by 2015 of as much as 2.2 million barrels a day, and as little as 1.9 million if only those projects that are now in operation or under construction go ahead.
Suncor's boldest move yet
Claudia Cattaneo, Calgary Bureau Chief, Financial Post
Friday, May 29, 2009
Taking quantum leaps has been the hallmark of Suncor Energy Inc. under the leadership of Richard George.
But Suncor's boldest move yet -- the $19.2-billion takeover of Petro-Canada -- may be approved next week, when shareholders vote on Mr. George's plan to form one of Canada's largest companies and the dominant player in the oil business.
Canada not yet ready for China
Claudia Cattaneo, Financial Post
Published: Wednesday, June 03, 2009
China and Canada have talked about developing a mutually beneficial energy relationship for a long time. Yet China seems to have made significant oil and gas investments everywhere but Canada, while Canada seems to have seen an influx of significant foreign investment in energy from everywhere but China in recent years.
Oil sands ‘back in black,' crude nears $70
Nathan VanderKlippe
Calgary — Globe and Mail Update, Wednesday,
Jun. 03, 2009
Surging oil prices and tumbling construction costs have pulled Alberta's stalled oil sands across a major threshold to future profitability, creating new expectations that a comeback may not be as far away as once feared.
Declines in the cost of steel and labour have combined with crude prices that yesterday neared $70 to bring the oil sands “back in black,” said UBS Securities analyst Andrew Potter.
Study: Melting Arctic Likely Holds up to 160 Billion Barrels of Oil
Michael Andrews - June 1, 2009
New study shows yet another potential benefit of a warmer planet [sic]
USGS CARA Concludes 13% of Worlds Undiscovered Oil, 30% of Undiscovered Gas in the Arctic
Caraoil
The US Geological Survey (USGS) has completed a geologically-based assessment of the oil and gas resource potential of the Arctic, the Circum-Arctic Resource Appraisal (CARA). (Earlier post.) The researchers in the effort concluded that about 13% of the world’s undiscovered oil and 30% of the world’s undiscovered gas may be found there, mostly offshore under less than 500 meters of water. A paper on the work was published in the 29 May issue of the journal Science.
