I was referring to negative/extremely low oil prices. $20 oil is here for awhile, $-37 sure isn't here to stay.Consumption decline is not temporary. Travel will not be the same for a while.
Yes, I think we are in for a bumpy ride.Given the current position of US producers they will not come out of this ahead and will lose market share. I fully expect to see the US return to a net oil importer within a year.
I think your wrong. That would require ~$150 oil, or the carbon tax to increase exponentially which they are intent on doing but not by December.I'm guessing 2$ a litre for regular gas by December. I hope I'm wrong.
If only we could build a pipeline to ship cheap Alberta oil east to Ontario, what a win win that would be, you'd have a cheap and stable source of domestic petroleum, we'd have another market to sell to. But of course we all know how the Energy East Pipeline went...So is my income
The higher the price for fule the
less money I have for other bills
and food and other things needed
to run a family farm
Yes it can be. We do have conventional oil as well that is the same as all other crude. What you are referring to is the heavy oil from the oil sands, which is the bulk of the oil we produce. This heavy oil is mixed with lighter solvents to make it able to be shipped by pipeline. In my area of the province we produce the solvents, we have a lot of natural gas wells that produce short chain hydrocarbons (condensate), this condensate contains many of the components in gasoline, and sometimes used to be called straight run gasoline. Heavy oil (bitumen) is mixed with this condensate to form Diluted Bitumen, also referred to as Dilbit.Excuse my lack of knowledge...can Alberta oil be refined to petroleum? I seem to think that it needs "higher grade" mixed? Is there truth to that?
That fuel also came from 593,000 barrels per day of oil being imported into Canada, most of it from the US. Quite the scheme the US has going on, in the west we sell crude to the US at often less than half its value because of lack of other domestic or foreign markets, and the east buys oil back from the US at full price.If crude oil could be piped from Alberta and the rest of the
Western Provinces across Canada we would be self-sufficient
in fule oil and Gasoline. There are 17 refineries in Canada 6 in western Canada,
4 in Ontario, 2 in Quebec, and 2 in the Atlantic Provinces. In 2018, Canadians
consumed 46 billion liters of gasoline. That's a lot of gas for just over 40 million people
The Sarnia plant can process some heavy oil, how much I'm not sure though, I'm assuming it uses conventional crude mostly though.Sarnia, Ontario isn't too far from me, maybe 120kms. Also known as chemical alley, what "oil" are they processing? My aunt works for Suncor and others over here career as a biologist. She is close to retirement age and was expressing deep concern that everything may get shut down due to pricing. She claimed the company doesn't make a nickel until a barrel sells for 42$. They were having a burn rate of 68$ million a day for her plant. Her retirement (stocks) had taken a 40% loss. A rough spot to be in for everyone for sure.
Or notThe US shale oil industry is in for a world of hurt. The Keystone XL Pipeline is under construction and will displace another 830,000 bpd of domestic US crude with Canadian Heavy oil.
Not sure what to tell you. Construction is still happening, the right-of-way is being cleared, lay-down yard are being filled with pipe, work camps being built.Or not
The U.S. Supreme Court refused to let construction start on TC Energy Corp.’s Keystone XL oil-sands pipeline, rejecting a bid by President Trump’s administration to jump-start the long-delayed project.www.latimes.com