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Canadian endless supply of oil

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jigs

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had people telling me about this pit that the Canadians are digging where the oil just bubbles out of the ground, they auger it up and extrude it from shale or something like that....

any of you northern guys care to shed some light on this subject?
 

Silver

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I would assume you are referring to Fort MacMoney (aka Fort MacMurray), and the tarsands. Located in norhern Alberta, possibly the largest oil reserves in the world. It is open pit mined, then processed to get the oil out. I think they also drill into it in places and inject steam to liquify it, and then pump it out.
 

greg

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Ya Alberta has alot of that resorce as matter of fact the surveyers are like bad flies in our area right now!! But heard Manitoba is finding oil kinda like what your talking about???
 

TimH

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jigs said:
had people telling me about this pit that the Canadians are digging where the oil just bubbles out of the ground, they auger it up and extrude it from shale or something like that....

any of you northern guys care to shed some light on this subject?

Jigs,
I'm not aware of anyplace that oil bubbles out of the ground, but the oil-sand reserves are HUGE at Ft. McMurray.
If you did a google search on "Syncrude" or "Suncor" you could probably find anything you want to know.
I've been through the mine site a few times and it is amazing!
 

greg

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Ya Ft.McMurray Is somthin to see,the Suncor,Syncrude plants ...theres a new one called Albine Sands.Our Mine rescue team competes in Ft.Mac. every year.The word is if you wanna move to Ft.Mac and buy a home,a79 mobile home will cost upwards 250 thousand!!
 

rkaiser

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had people telling me about this pit that the Canadians are digging where the oil just bubbles out of the ground,

And they called them the Beverly Hillbillies. Ya all come up for a good steak now won't ya. :wink:
 

Manitoba_Rancher

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The oil is getting closer and closer to this area. Just about 25 miles SW of here theyhave found tremendous amounts of light crude. It has has taken a ghost town to a booming town. Ive got all my mineral rights and surface rights for my land here so I hope they come along. They are talking about drilling some test holes up in this area this spring. Mr Kaiser do you think Id make a good Jed Clampet? :wink:
 

greg

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I might be a dumb Alberta redneck but I thought I'D heard Manitoba was finding serious oil :lol: You do know the other half of Newfoundland will be moving to your province when they here that!!! :p
 

Econ101

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I read an article on how much natural gas was used to get the oil out of the sands. Kind of like calculating how much energy it takes to get ethanol out of corn (isn't that where Johannes is from in business?). A whole bunch. I don't know the exact figures, but if it takes a lot of energy to get the oil out, you have to subtract that from the oil reserves.
 

Big Muddy rancher

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Econ101 said:
I read an article on how much natural gas was used to get the oil out of the sands. Kind of like calculating how much energy it takes to get ethanol out of corn (isn't that where Johannes is from in business?). A whole bunch. I don't know the exact figures, but if it takes a lot of energy to get the oil out, you have to subtract that from the oil reserves.


Thats why Sask. is talking about building a nuclear power plant and a new hiway thru the north. Wages for a welder are $100 /hour. Construction supervisor are $950 a day.
 

Jason

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The cost of oil recovery from Alberta oil sands is about $15 per barrel now. There is a new technology coming online that is supposed to lower that to $7.

Yep another case of competition making things worse.
 

Econ101

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Jason said:
The cost of oil recovery from Alberta oil sands is about $15 per barrel now. There is a new technology coming online that is supposed to lower that to $7.

Yep another case of competition making things worse.

Jason I am a little familiar with oil reserve (I said a little) accounting. Was the gas used in the calculations you quoted valued on the opportunity cost of that gas?

What does any of this have to do with competition? Are you a member of Organization for Competitive Markets or something?
 

Manitoba_Rancher

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BMR,


Where do I apply for this $100 per hour welding job? Maybe I could put my specialty skill to work to support this darn farm
 

Manitoba_Rancher

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as a side note.. none of the oil that is pumped out of the ground in this new site IS NOT GOING SOUTH TO THE US! It is staying right here in Canada!
 

Mike

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Manitoba_Rancher said:
as a side note.. none of the oil that is pumped out of the ground in this new site IS NOT GOING SOUTH TO THE US! It is staying right here in Canada!

Bet it would if they could get more money for it! :wink:
 

Econ101

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Mike said:
Manitoba_Rancher said:
as a side note.. none of the oil that is pumped out of the ground in this new site IS NOT GOING SOUTH TO THE US! It is staying right here in Canada!

Bet it would if they could get more money for it! :wink:

MR, some of the crude from Alaska is going to Japan. What does it matter that the crude is staying in Canada? It is replacing other Canadian oil on the domestic market so other oil can go south.
 

Manitoba_Rancher

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Econ you should know what your talking about before you open your trap. Most of this oil is being used in the local area. The company that is bringing it out of the ground is from Manitoba and they are doing darn well for them selves.
 

Econ101

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Manitoba_Rancher said:
Econ you should know what your talking about before you open your trap. Most of this oil is being used in the local area. The company that is bringing it out of the ground is from Manitoba and they are doing darn well for them selves.

M R, what does that have to do with the price of tea in China?
 

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