Good News for North American Energy Security

By November 4, 2009Energy, Global Warming, Trade

From The Calgary Herald, “Oilsands billions expected to be unlocked“:

CALGARY – Steadily rising oil prices will combine with lower costs to put some of the more than $100 billion in cancelled oilsands projects back on the front burner, according to a new study.

“I think we’re going to see over the next six to eight months more projects coming on,” said research director David McColl of the Canadian Energy Research Institute.

See also The Edmonton Journal, “Alberta oilsands could deliver $850B in royalties by 2035: research institute

There are those among the environmental groups and in Congress who look askance at developing oil sands because they are comparatively energy-intensive to developing other, more traditional forms of oil. To limit U.S. access to oil produced from our nation’s No. 1 energy supplier, Canada, they’re trying political feints like a “low carbon fuel standard.” Because if the United States doesn’t consume it, nobody will, right?

From The Globe and Mail, “OPTI Canada on lookout for buyer“:

In recent months, a resurgent interest in the oil sands has brought multibillion-dollar investments from Chinese and South Korean interests. In August, PetroChina Co. Ltd. bought a 60-per-cent stake in two oil sands projects from Athabasca Oil Sands Corp. Last month, the Korea National Oil Corp. bought out Harvest Energy Trust for $1.8-billion in cash, plus $2.3-billion in assumed debt.

For more on CERI and its studies, click here. (However, this latest study is not yet online.)

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