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