Canada's energy superpower status threatened as world shifts off fossil fuel


mentalfloss
-1
#1
Canada's energy superpower status threatened as world shifts off fossil fuel

Canada's status as an "energy superpower" is under threat because the global dominance of fossil fuels could wane faster than previously believed, according to a draft report from a federal government think-tank obtained by CBC News.

"It is increasingly plausible to foresee a future in which cheap renewable electricity becomes the world's primary power source and fossil fuels are relegated to a minority status," reads the conclusion of the 32-page document, produced by Policy Horizons Canada.

The little-known government organization provides medium-term policy advice to the federal bureaucracy, specializing in forecasts that peer a decade or two into the future.

The document was obtained by CBC News under an access to information request and shared with two experts — one in Alberta, one in British Columbia — who study the energy industry.

Both experts described its forecasts for global energy markets as more or less in line with what a growing number of analysts believe.

"It's absolutely not pie in the sky," said Michal Moore from the University of Calgary's School of Public Policy. "These folks are being realistic — they may not be popular, but they're being realistic."

Marty Reed, CEO of Evok Innovations — a Vancouver-based cleantech fund created through a $100-million partnership with Cenovus and Suncor — had a similar take after reading the draft report.

"You could nit-pick a couple of items," he said. "But at a high level, I would say the vast, vast majority of what they wrote is not even controversial, it's very well accepted."

Canada's energy superpower status threatened as world shifts off fossil fuel, federal think-tank warns - Calgary - CBC News
 
captain morgan
Bloc Québécois
+1
#2
The CBC, what a laugh

 
Locutus
+1
#3
dat prog narrative eh.
 
mentalfloss
#4
You mean like same sex marriage?
 
lone wolf
Free Thinker
#5
...speaking of Windy....
 
pgs
Free Thinker
+1
#6
I wonder how all those cars stuck trying to cross the Alex Fraser Bridge are shifting of fossil fuels ?
 
Johnnny
No Party Affiliation
#7
Both governments had and have really dropped the ball when it comes to our managing revenues from our resources, heavily!!!!

Canadians of the future are going to look back in time and compare themselves to countries like Norway and wonder to themselves, "Where did all that money go?"
 
Locutus
+1
#8
Canada-hating progs gonna prog. They want us to fail kids. They will not succeed.
 
petros
#9
Quote: Originally Posted by pgs View Post

I wonder how all those cars stuck trying to cross the Alex Fraser Bridge are shifting off fossil fuels ?

There is EV charging spot at the bulk barn in Queensborough.

Quote: Originally Posted by Locutus View Post

Canada-hating progs gonna prog. They want us to fail kids. They will not succeed.

Fight ecofascism!
 
mentalfloss
#10
Quote: Originally Posted by Locutus View Post

Canada-hating progs gonna prog. They want us to fail kids. They will not succeed.

 
JamesBondo
+2
#11  Top Rated Post
great! the shift is happening so fast, there will be no need to move forward with a carbon tax, eh?
 
petros
+1
#12
The price of an abundant product that was overinflated at one point by more than 100% is being used less at a natural price.

You are getting as bad as MHz in the sense dept.
 
MHz
#13
Price coming down and consumption going up, I fail to see any problem to tell you the truth..

Quote: Originally Posted by petros View Post

The price of an abundant product that was overinflated at one point by more than 100% is being used less at a natural price.

You are getting as bad as MHz in the sense dept.

The break-even point for Russia is $20. What is it for the most accessible oil in Canada? Anything over a 10% profit is robbery.
 
Curious Cdn
Conservative
#14
it's true. We will no longer be a petroleum superpower in 2125. We might be a Thorium superpower, by then.
 
mentalfloss
#15
Quote: Originally Posted by petros View Post

The price of an abundant product that was overinflated at one point by more than 100% is being used less at a natural price.

You are getting as bad as MHz in the sense dept.

You're getting as bad as yourself in the stupidity department.


Forget $20 - Oil Prices At $8 Per Barrel In Canada

Where is the cheapest crude oil in the world? And how low can you get that barrel of oil?

WTI has declined to $30 per barrel, the lowest level in more than 12 years. But heavy oil producers in Canada would love to have $30 oil.

The price for a barrel of bitumen, the tar-like oil sands that comes from Alberta, fell to just over $8 per barrel this week. That is not a typo. Bitumen traded at $8.35 per barrel on Tuesday.

In fact, Amazon.com sells oil drums – just the barrel, not the oil – for $78, almost ten times the cost of the actual bitumen. To be fair, that drum holds 55 gallons instead of the industry-usual 42 gallons. But even a 30-gallon barrel – again, an empty barrel – costs 7 times more than the oil sands that would go in it.

Single-digit oil prices for oil sands is not just a problem, it is an existential crisis. That is because heavy oil is some of the costliest stuff around. Bitumen production is way more expensive than oil from shale.

Heavy oil producers are now losing money on every single barrel that they sell, even from facilities that are already up and running. Forget the fixed costs of development; just the operating costs of keeping a project online are significantly higher than the revenue that an oil sands producer would earn from selling their bitumen.

Forget $20 - Oil Prices At $8 Per Barrel In Canada | OilPrice.com
 
MHz
#16
"The price for a barrel of bitumen, the tar-like oil sands that comes from Alberta, fell to just over $8 per barrel this week. That is not a typo. Bitumen traded at $8.35 per barrel on Tuesday."
Take away the subsidy and the price rises dramatically. Probably incentive to buy it since it has limited uses even after blending with oil from other places.
 
petros
#17
Quote: Originally Posted by MHz View Post

Price coming down and consumption going up, I fail to see any problem to tell you the truth..


The break-even point for Russia is $20. What is it for the most accessible oil in Canada? Anything over a 10% profit is robbery.

Flossy doesn't get it.

We an abundance of conventional wells running for nearly 70 years and bought and paid for before you and I were born.

Jack pumps cost nearly nothing to run.

Cheaper than Russia on access alone

The life of a play and volume can be doubled by injecting CO2.

AB simply needs to slap down some heavy cash and by the SK owned technology.

Russia doesn't have that edge and won't.

Quote: Originally Posted by mentalfloss View Post

You're getting as bad as yourself in the stupidity department.


Forget $20 - Oil Prices At $8 Per Barrel In Canada

Where is the cheapest crude oil in the world? And how low can you get that barrel of oil?

WTI has declined to $30 per barrel, the lowest level in more than 12 years. But heavy oil producers in Canada would love to have $30 oil.

The price for a barrel of bitumen, the tar-like oil sands that comes from Alberta, fell to just over $8 per barrel this week. That is not a typo. Bitumen traded at $8.35 per barrel on Tuesday.

In fact, Amazon.com sells oil drums – just the barrel, not the oil – for $78, almost ten times the cost of the actual bitumen. To be fair, that drum holds 55 gallons instead of the industry-usual 42 gallons. But even a 30-gallon barrel – again, an empty barrel – costs 7 times more than the oil sands that would go in it.

Single-digit oil prices for oil sands is not just a problem, it is an existential crisis. That is because heavy oil is some of the costliest stuff around. Bitumen production is way more expensive than oil from shale.

Heavy oil producers are now losing money on every single barrel that they sell, even from facilities that are already up and running. Forget the fixed costs of development; just the operating costs of keeping a project online are significantly higher than the revenue that an oil sands producer would earn from selling their bitumen.

Forget $20 - Oil Prices At $8 Per Barrel In Canada | OilPrice.com

See above
 
mentalfloss
#18
Strong bitumen blending prices expected to continue to hurt oilsands | Calgary Herald
 
MHz
#19
Quote: Originally Posted by petros View Post

Flossy doesn't get it.

We an abundance of conventional wells running for nearly 70 years and bought and paid for before you and I were born.

Jack pumps cost nearly nothing to run.

Cheaper than Russia on access alone

The life of a play and volume can be doubled by injecting CO2.

AB simply needs to slap down some heavy cash and by the SK owned technology.

Russia doesn't have that edge and won't.

It would be a big boat he is in. I got tuned in when exploration was found to be hinged on the price of oil. New finds were priced using current prices and that was classified as an asset to the oil company that held the drilling rights. The 'lean' years were spend fine-tuning existing fields rather than being shut down completely. (10% of the workforce)

Easy to tap well could also be used for the next 70 years with only the smallest feeder lines being installed.

NG is better as it is already found in large quantities that is already under the right pressure to force heavy oil up the stem. I wonder what hho gas would do as it can be ignited even when far underground and it will continue to burn as long as there is a supply of both gasses. It would create a lot of heat and pressure for the amount of product used.
I have no proof but the deeper wells have to be quite warm on their own compared to rock near the surface and that would be where the bottle-neck would be so that might be the only area that needs heat applied.

You seem to think Sask has AB over a barrel (no pun intended). AB could do it without a doubt and not even quibble over the price as long as the money was going to a project that both provinces would benefit from. Say industrial hemp during the transition from GMO crops to heritage seeds for the same products. After that the best areas for hemp will be known and Canada should have some seeds that are suited to the Canadian growing conditions.

Russia would be happy to deal with Canada along the lines of pipeline construction as the regs are already known and the terrain is similar and Russia would gladly spend the money to do it right (long lasting and maintenance free) A temp contract as once they have the plants that can replicate what we have (pellets) then they take over and we are finished with that part of helping Russia and China and India build the end-user equipment with the least fuss and expense. They take over all aspects from there and we carry on with the projects that the money was invested in. Tidal energy and rivers spinning water-wheels or whatever
 
mentalfloss
#20
Well this is interesting.. Will poor petey be on the streets now?


Survival, not growth, is the new mantra in the oilpatch’s great war on costs

Oilsands stalwarts Suncor Energy Inc. and Cenovus Energy Inc. both posted first-quarter losses, despite appreciable cost reductions. The Conference Board of Canada expects the industry to rack up $3 billion in losses this year to add to the $7 billion of red ink last year.

Executive teams in Calgary have huddled together in boardrooms to find efficiencies and slashed headcounts, wages and dividends. That led to a net loss of 19,600 jobs in Alberta last year — a 33-year high — and the shelving of projects across the basin. In some cases, every line on the books has been scrutinized.

“We have reviewed every cost in the company,” said Corey Zahn, chief financial officer at Citadel Drilling, which began operations three years ago. “We are continuously looking at improvements in every area just to save even pennies these days. That’s how bad it is.”
 
B00Mer
No Party Affiliation
#21
here we have Albertans whinging about the new carbon tax, and whoops, the govt better not count on significant income from carbon taxes in the near future. I guess we're nearing the "hump" where renewables become cheaper and cheaper. No doubt today's dinosaurs will bemoan this for some time. Ironic considering it's their ancestors that they want to keep spewing.

Not good for BC, where we're about dams and nat gas. Wonder what Krispie Clark will promise us for 2017. Certainly not wiping out the debt and having a 100 million prosperity fund like last time.
 
Walter
-2
#22
The OP is just another Analfloss Clingon.
 
B00Mer
No Party Affiliation
+1 / -1
#23
Quote: Originally Posted by Walter View Post

The OP is just another Analfloss Clingon.

Of course, another Trump supporter can only sling insults and can't come up with a substantive and informative reply.

Brain Dead Walter.
 
Walter
#24
Quote: Originally Posted by B00Mer View Post

Of course, another Trump supporter can only sling insults and can't come up with a substantive and informative reply.

Brain Dead Walter.

I preferred Cruz but I could never vote for the bit-ch Hillary if I was a US citizen or an illegal immigrant.
 
B00Mer
No Party Affiliation
#25
Quote: Originally Posted by Walter View Post

I preferred Cruz but I could never vote for the bit-ch Hillary if I was a US citizen or an illegal immigrant.

So vote for Gary Johnson.

Libertarians pick ticket, slam Trump - CNNPolitics.com
 
mentalfloss
#26
Quote: Originally Posted by Walter View Post

The OP is just another Analfloss Clingon.

 
captain morgan
Bloc Québécois
#27
Quote: Originally Posted by mentalfloss View Post

In fact, Amazon.com sells oil drums – just the barrel, not the oil – for $78,

Pssssstt.... FYI - they don't sell oil in actual drums.

Thought you'd wanna know
 
petros
+1
#28
Why does Wynne subsidizing auto makers to make even more cars to burn more fossil fuel?