Globe and Mail: The oilsands are worthless

[mentalfloss]

Oil is Dead.


The oil-sands fundamentals are dire and stark – and Canada shouldn’t spend to revive a dying dream

Peak oil is near – not because of oil scarcity, but because demand is slowing. Electric cars are getting cheaper and better, climate polices are getting stronger, and now COVID-19 has accelerated workplace changes that have and will continue to reduce commuting and business travel.

On the supply side, technological change is also making oil extraction cheaper and more competitive. Fracking of tight oil is a relatively inexpensive option that can be ramped up quickly and inexpensively compared with projects in the oil sands, which require significant capital and time investment.

While the growth of global climate policy is unsteady, humanity can’t dodge climate reality, and policies will have to grow stronger. Youth will win the Greta vs. Trump battle. Perhaps quickly. And while our oil is more ethical than Saudi Arabia’s or Russia’s, global markets have not figured out how to price human rights into the cost of a barrel, and it is hard to imagine they ever will.

Continuing to invest significant funds into maintaining sales in a shrinking market is a bad business proposition and a bad use of public funds. We should let carbon pricing and regulation drive the cost-competitive emission reductions that should be pursued by the companies themselves.

https://www.theglobeandmail.com/opi...ntals-are-dire-and-stark-and-canada-shouldnt/

 

[bill barilko]

Another factor not mentioned is the monstrous over supply of tar sands-Venezuela, Russia & Kazakhstan are awash with the stuff.

 

[Jinentonix]

And while our oil is more ethical than Saudi Arabia’s or Russia’s, global markets have not figured out how to price human rights into the cost of a barrel, and it is hard to imagine they ever will.

Like anything else. What's the human rights cost on a pair of slave labour manufactured Nike's that poor ol' oppressed Krapnick likes to promote and wear?


500,000 gallons of water is destroyed to make 1 ton of lithium. What's the human rights cost there? South American farmers downstream of the lithium mines are already feeling the water loss while lithium production isn't anywhere it needs to be to meet the green nightmare demands.

What the human rights cost of destroying hundreds of billions of gallons of fresh water every year?

What's the human rights cost of Lake Baotou in Mongolia?
What's the human rights cost of China having 20% of it's farmland made toxic by heavy metal run-off from China's battery production?
What's the human rights cost of denying the First Nations opportunities to financially gain from Canada's O&G industry?


Yep, it's adorable the way you pretend to care about human rights. :lol:

 

[Hoid]

The pipelines are a pipe dream.

As bad as the $4.5 billion that Trudeau spent buying the trans mountain - with no parliamentary oversight - the $12 or $15 or $25 billion they are going to invest in upgrading that dinosaur is far worse.

That is money that is sorely needed in this country.

 

[Twin_Moose]

I was against taxpayer's buying it, but it will pay for itself.

 

[Jinentonix]

The pipelines are a pipe dream.

As bad as the $4.5 billion that Trudeau spent buying the trans mountain - with no parliamentary oversight
That is money that is sorely needed in this country.

Oh, but the $6+ billion we send EVERY year to UN pet projects isn't needed in this country?

 

[DaSleeper]

Quit trying to talk sense to a globalist....

 

[petros]

Oil is Dead.
The oil-sands fundamentals are dire and stark – and Canada shouldn’t spend to revive a dying dream
Peak oil is near – not because of oil scarcity, but because demand is slowing. Electric cars are getting cheaper and better,

Sales of plug-in passenger cars achieved a 2.5% market share of new car sales in 2019, up from 2.1% in 2018, and 1.3% in 2017. The PEV market is shifting towards fully electric battery vehicles.

0.4% of the vehicle market gained per year. WOW. Oil truly is dead.

 

[DaSleeper]

When they finally perfect wireless electrical power transfer so that it is safe for humans in the vicinity, then electric powered cars with battery back-up, at an affordable price will be able to compete with oil powered vehicles .

 

[petros]

May as well string wires for pantographs

 

[petros]

2.4% of 22,000,000 is overwhelmingly a shift from fuel to electric.

 

[Gilgamesh]

Oil is Dead.


The oil-sands fundamentals are dire and stark – and Canada shouldn’t spend to revive a dying dream

Peak oil is near – not because of oil scarcity, but because demand is slowing. Electric cars are getting cheaper and better, climate polices are getting stronger, and now COVID-19 has accelerated workplace changes that have and will continue to reduce commuting and business travel.

On the supply side, technological change is also making oil extraction cheaper and more competitive. Fracking of tight oil is a relatively inexpensive option that can be ramped up quickly and inexpensively compared with projects in the oil sands, which require significant capital and time investment.

While the growth of global climate policy is unsteady, humanity can’t dodge climate reality, and policies will have to grow stronger. Youth will win the Greta vs. Trump battle. Perhaps quickly. And while our oil is more ethical than Saudi Arabia’s or Russia’s, global markets have not figured out how to price human rights into the cost of a barrel, and it is hard to imagine they ever will.

Continuing to invest significant funds into maintaining sales in a shrinking market is a bad business proposition and a bad use of public funds. We should let carbon pricing and regulation drive the cost-competitive emission reductions that should be pursued by the companies themselves.

https://www.theglobeandmail.com/opi...ntals-are-dire-and-stark-and-canada-shouldnt/

Oil has a long life yet. Batteries AND the means of generating lots of electrons, fast and cheaply with batteries probably needing to be 10X better than the ones forecast for the next few years will be needed.
Until then, farmers machinery, trains, planes, military, LONG haul trucks, ships, etc. will all run on oil.
Plus, here are just a few things that are made from crude oil that will still be in the stores in another hudred years.
Clothing, cell phones, perfumes, make up, lipstick, nail polish, purses, shoes, sweaters, panty hose,
Hair colouring, petroleum jelly, hand lotion, toothbrushes, hand lotion, toilet seats, soap, pillows, shaving cream curling iron, hair dryer, shampoo, conditioner.

Deoderant, combs and brushes, headphones, skis, basketballs, golf bags and balls, car tires, bike tires, sunglasses, rubbing and industrial alcohol, ballpoints. Electric blankets, surf boards, show polish, refrigerators, dishwashers, boats, televisions, luggage, antihistamines, candles.

Blinds, Paint, speakers, ice cube trays, vitamin capsules, battery cases, motorcycle helmets, food preservatives, cortisone, antiseptics, life jackets, insect repellent, fertilizers, musical instrument strings, antifreeze, eyeglasses, parachutes, condoms, dentures.

 

[Gilgamesh]

have a grrreat freakin' day;-)

 

[Gilgamesh]

When they finally perfect wireless electrical power transfer so that it is safe for humans in the vicinity, then electric powered cars with battery back-up, at an affordable price will be able to compete with oil powered vehicles .

And when my aunt grows balls and a d**k she will be my uncle.

 

[Twin_Moose]

The Oil industry just announced the plans to use Hydrogen in oil extraction with this method they would be able to up production while staying below the Carbon cap.

 

[petros]

Another excellent solvent. The smaller the molecule the better it is as a solvent. CO2 EOR was a good start.

 

[mentalfloss]

*gulp*


Alberta loses $2.1B on crude-by-rail contracts

To put this loss in perspective, it amounts to roughly $500 for every single Albertan.

So what happened? How did the government manage such a large loss in such a short time?

https://www.cbc.ca/amp/1.5706160

 

[taxslave]

The pipelines are a pipe dream.
As bad as the $4.5 billion that Trudeau spent buying the trans mountain - with no parliamentary oversight - the $12 or $15 or $25 billion they are going to invest in upgrading that dinosaur is far worse.
That is money that is sorely needed in this country.

Figures. The one smart thing turdOWE did and you are against it. What I fear is how much it will cost taxpayers when the idiot breaks TM up and gives the profitable parts to his friends. Could be ontariOWE and kweebek will be voted out of Canada by then. Then the West will be prosperous with taxpayers getting a dividend from our government .

 

[taxslave]

Sales of plug-in passenger cars achieved a 2.5% market share of new car sales in 2019, up from 2.1% in 2018, and 1.3% in 2017. The PEV market is shifting towards fully electric battery vehicles.
0.4% of the vehicle market gained per year. WOW. Oil truly is dead.

Just imagine how sales growth would explode if the were subsidized housing taxpayers. Oh wait"....

 

[taxslave]

*gulp*
Alberta loses $2.1B on crude-by-rail contracts
To put this loss in perspective, it amounts to roughly $500 for every single Albertan.
So what happened? How did the government manage such a large loss in such a short time?
https://www.cbc.ca/amp/1.5706160

You can thank turdOWE and Horgan for stalling pipeline construction.
Kitamat LNG is going greatguns .