Friday, January 15, 2010

Oilsands pumped and ready to go.

2010 is the year to prepare because the oilsands are going to really bounce back by 2011. Enbridge has planned $10.2B in oilsands projects between 2009 and 2013.

"THE GLOBAL recession has, at least temporarily, put the brakes on for Canada's oil sands industry. But it can bounce back, says a November 2009 report from the France-based International Energy Agency (IEA), if environmental and economic challenges are met.

Canadian oil sand resources are located almost entirely in the province of Alberta, occurring primarily in three areas - Peace River, Athabasca and Cold Lake. According to the Government of Alberta, current capacity is 1.757m bbl/day, up from 2008's 1.2m bbl/day - itself a doubling of 2000's capacity, and a tripling of 1990's capacity." Read More

"Because of the disappointing results in the US and the expansive reserves in Canada, the technical expertise and financial resources for oil sands development has shifted almost exclusively to Canada and [they] are likely to stay in Canada for the foreseeable future," Marc Humphries, energy policy analyst for the US-based Congressional Research Service.

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