Canada has the third largest oil reserves in the world. But for several reasons, it may never be extracted. Unconventional risks an investor response to canadas oil sands. In the case of foreign investment this stance is one in which government. American imports of oil and products from canada grew from 450,000 bbld 72,000 m 3 d in 1981 to 3,120,000 bbld 496,000 m 3 d in 20 as canadas oil sands produced more and more oil, while in the us, domestic production and imports from other countries declined. Every day, it produces about 247,000 barrels of its highquality sweet crude oil, called syncrude sweet blend, at its plant at the athabasca. Like most addicts, people in general have resolved themselves to the harms that accompany their habit, in terms of things like oil spills and air pollution. The case for canadas oil sands is a book written by canadian lawyer. The problem alberta sits over one of the largest recoverable oil patches in the world, second only to saudi arabia. I congratulate the author for beginning with a delightful trick that ive never seen pulled off so well. The fortunes of canadian tar sands oil changed overnight this week.
Backers say their method will avoid the environmental toll incurred in canadas oil sands some others arent so sure. Ceo of canadas suncor energy, which supports the establishment of a provincewide carbon price and a cap on oil sands emissions. Great canadian oil sands company now called suncor energy. Canadas oil sands are not only an unconventional oil and gas resource. Following excerpts from various web sources explained governments position on the issue. In the high case scenario, the oil sands production in canada is estimated to increase from 2. Rex murphy comes to the defence of canadas oil sands as the country faces scrutiny at a climate conference in durban, south africa. The case for canadas oil sands was worth the price of the book all by itself. Canadian oil sands daily production forecast by scenario. The importance of canadas oil sands canadas oil sands are important to the u. By 2025, production from canadian oil sands is expected to rise from about 1. Bitumen bitumen is oil that is too heavy or thick to flow on its own.
Making liquid fuels from oil sands requires energy for steam injection and refining. Canadian energy research institute the impacts of canadian. It covers 149, 000 square kilometers, an area larger than florida, and holds at least 175 billion barrels of recoverable crude bitumen. Growth potential of a unique resource amidst regulation, egress, cost, and price uncertainty 5 preface this research was conceived with two central objectives.
The future of the canadian oil sands oxford institute for energy. At least the author admits to be polemic subtitle is the case for canadas tar sands. The canadian government considers the oil sands as ethical oil because it makes the. A lack of material production declines from oil sands facilities means growth may be more readily achieved than other forms of oil production globally which has to increase at a pace that exceeds production declines. That supposedly makes the tar sands the ethical choice. Syncrude canada limited gy, bob dunbar strategy west inc.
Carbon tracker initiative recently reported that those investing in canadian oil sands could be at. In north america, oil sands production provides secure and reliable supply, reducing reliance on foreign imports and providing economic growth in both canada and the u. Consider ethical and moral concerns regarding the oil sands industry, and if a crime of. Canadian oil sands investment slides geographical magazine. Canadian oil sands have the potential to continue to provide ever greater fuel supply reliability to the united. Two thirds of the book makes the point that it is better for the world although he focusses on the us, to get its oil from a friendly, nonislamist, nonsocialist source namely canada. The charter clearly states the signatories vision, shared beliefs and commitments. The economist called ethical oil a polemical defence of the tar sands. Download for offline reading, highlight, bookmark or take notes while you read ethical oil.
Canadian association of petroleum producers, figure 2. Natural resources canada nrcan is committed to developing canadas oil sands and heavy oil resources in a sustainable. Developing the canadian oil sands is a very capital intensive endeavor, requiring. February 2016 the future of the canadian oil sands. A plan to unlock billions of barrels of oil from utahs sands. The real reason why the oil sands are unethical is because of how exploiting them ignores canadas responsibilities. Bitumen bitumen is oil that is too heavy or thick to flow or be pumped without being diluted or heated. Canadas political climate is extremely stable compared to that in many other oilproducing countries. The mark of a new oil age or a potential threat to arctic security. The case for canadas oil sands ebook written by ezra levant.
The role of canadian oil sands in us oil supply key implications what is the role of canadian oil sands in us oil supply today and in the future. Energy and ghg emissions projections, reference case. The letter of complaint pdf was filed by mclennan ross llp on behalf of. Canada has the third largest oil reserves in the world and 97% of these reserves are in the oil sands. Canadas richness in oil and gas resources can be measured based on its global presence. Canadas oil sands are a major resource within canadas energy sector, accounting for 97 percent of canadas total oil reserves. Canadas ethical oil fallacy council of canadians london chapter. Our vision is to enable responsible and sustainable growth of canadas oil sands while delivering. Suncor is a signatory to the carbon pricing leadership coalition. Some bitumen is found within 70 metres 200 ft from the surface but the majority is deeper underground. In this issue of sustainability perspectives the ethical funds company takes a look at the impacts of oil sands.
F or this reason, oil is a deeply political subject in canada the back and forth debates between environmentalists and the oil industry are as volatile as the crude oil is viscous. Developing oil sands syncrude surface mines oil sand, extracts the raw oil known as bitumen and upgrades it into highquality, sweet light crude oil. Canadas oil sands help supply americas energy needs while also. Canadas oil industry has faced a massive selloff since the collapse of oil last year, due to the high cost of production in canada and the political climate. In 2009, ezra levants bestselling book shakedown revealed the corruption of canadas human rights commissions and was declared the most important. The current low oil price could also mean the canadas oils sands are too expensive to extract. Tar sands in canada are on the verge of an explosive comeback. For this reason, this paper aims at indicating points against the statement. Oil sands industry overview 1 overview of canadas oil sands industry cappa conference 2010 november 2, 2010 calgary, alberta 121 photo source. Ethical oil, by ezra levant the objective standard. Canadas oil sands explained election 2015 issues youtube.
The upgrading process subjects the bitumen to fluid coking, hydro processing, hydro. The case for canadas oil sands has been listed as one of the language and literature good articles under the good article criteria. The impacts of canadas oil sands development on the united states economy october 2009 viii services in both countries, and the increased trade resulting there from, that broadly increases the level of economic activity to the united states. Canadian oil sands production is as much influenced by the global energy market as the politics at home. Canadas oil sands to remain a growth story ihs markit. Shell sells oil sands assets as boss warns on clean energy. But oil sands are a fundamentally different kind of oil. If it no longer meets these criteria, you can reassess it. His awardwinning book called for a national debate on the pace and scale of bitumen production and its impact on canadas politics three years ago. Oil sands oil sands are a natural mixture of sand, water and bitumen.
It must be diluted, pumped without being diluted or heated. Ethical oil is known for campaigns targeting opponents of albertas tar sands production. Request pdf on jan 2, 2014, melissa aronczyk and others published ethical oil. Introduction the statement canada oil sands are much more of a blessing rather than a curse is not true because the disadvantages of oil sands outweigh the advantages.
Please stop calling it ethical oil the globe and mail. Exodus from canadas oil sands continues as energy giants shed assets. Levant thoroughly documents the double standards and hypocrisy of the ethical funds and environmental activists which act as unquestioning quislings for a rogues gallery of overseas oil producers which are setting out to undermine canada s wonderful oil resource most with very nasty cvs. Canada oil sands innovation alliance on march 1, 2012, twelve oil companies signed the canadas oil sands innovation alliance cosia charter. Article pdf available in the extractive industries and society 2. Canadas oil sands the in situ producers perspective. Ihs markit oil sands production outlook to 2026 2017 outlook compared to 2016 more oil from existing facilities. Energy investors wrote off canadas tar sands after oil prices plummeted 50% between 2014 and 2016. They take a lot of energy and a lot of water and leave a very large environmental.
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