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Originally posted by Mcphisto
If the US had this much oil at thier disposal since the 60's at a measily $20 a barrel,
I dont think US policies would have taken the path they have in recent years, never mind the last 40 yrs!
But what do I know ?
Originally posted by Rasputin13
I think we should be cautious about this story, especially considering the motives behind this link. Just from scanning it (I don't have the time or the energy to read every word), it appears that this is a corporation or similar entity trying to sell you on investing in oil shale and/or the companies involved in oil shale.
To rely on this information would be like relying on a company that sells gold telling you how valuable gold is going to be in 5 years.
Get my drift?
I actually pray that these figures are correct and that we can get off the crack that is foreign oil.
It'd do a hell of a lot for our national security
military and foreign policy.
Of course it would also be a detriment to our investment in alternative fuels, hybrid vehicles, etc.
It is a plan put up by shell who says they can drill into the shale then heat it up causing the oil to bubble up while placing refrigerants in a perimeter to prevent the rest of the oil from spilling out.
Originally posted by sardion2000
But how are you guys gonna extract it at an efficient rate? Canada can only manage 1 mil/b/d and our recoverable reserves atm are roughly 140 billion barrels, if it was so cheap, why haven't we extracted it long ago? Could it be that Saudi Sweet Crude was cheaper? Not really so anymore.
Our daily output is expected to double in a decade, maybe even less,
Oil in the Mountains seems like it may be very hard to get at.
The Extraction and Refining may eventually cost a good deal less then it is currently of which I cannot find any source that seems semi-reliable. (Any Wiki link or link from an unknown(and thusly untrusted)) source should be taken with a grain of salt.
But my question is this. Is the cost of extracting debris included in the extraction cost?
Or is there an accounting trick to make it seem cheaper then it really is to the laymen or joe blow speculative investor.
If I had the will power to actually look it up, I guess I could calculate how much energy is required and then estimate the cost based on that, but it's late. Maybe tomarrow if I remember.
EDIT: If anyone wants to help out by locating reliable information for different variables, then I would be greatful.
The heavy syrup is either drawn out with heat or mined with machinery and then heated to transform it into usable oil. The production cost per barrel, $10 to $20, makes it competitive with conventional oil in the United States.
The oil sands didn't yield their treasure overnight. Suncor Energy of Calgary, the first company to begin such operations, in 1967, embarked on a major expansion in 1998, when the worldwide price of oil had plummeted to around $10 per barrel and the cost of producing from oil sands was still well over $20 per barrel. "It did take a lot of nerve," Chief Executive Officer Rick George recalls. The company continues to absorb risks. Early last year, a major fire cut Suncor's daily output for 2005 by 22 percent. Even so--in a measure of just how profitable this business is--Suncor saw a 14 percent increase in net income.
Originally posted by timbradwell
maybe it cost 20 dollar a barrel to extract it back when saudi oil was 10 dollars a barrel years ago but would it still cost 20 dollars a barrel now or would you have to factor in inflation.how would you mine it would it be like a coal strip mine.
Originally posted by toolman
It wont happen until we run out of fossil fuel Oil, and there is no other alternative, if we have not been weaned off Oil beforehand.
Originally posted by newtron25
This is a timed "discovery" to try to get the current administration up and hobbling on the crutches they were using before the presidents approval rating nearly blew a hole in the floor...
And as for the drilling, it better not ruin the fine Rocky Mountain taste of my Coors beer products or I will SUE the federal government with...with....something.
Originally posted by toolman
Your confusing tar sands with shale oil, they are not the same thing.
Shale oil processing creates massive waste and carcinogenic solids, not to mention the massive hole in the ground left afterwards, etc.
It wont happen until there is no other alternative, and maybe not then.
We have another 30-50 years of Petroleum, maybe more...relax, enjoy your petroluem based computer and enjoy the view.