Industrialized Cyclist Notepad


Don’t Worry, It’s Not Oil

I’m sure you’ll be able to sell your house, no problem..

Many photos of Exxon’s Mayflower, Arkansas spill (definitely not oil) via EPA On-site Coordinator website: http://epaosc.org/site/image_list.aspx?site_id=8502

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Canada-US pipeline map

The Pegasus line through Arkansas is spewing its contents into a subdivision.

pipelinemap
click to enlarge



Still more North American energy security

Canadian Prime Minister Stephen Harper approved Cnooc Ltd. (883)’s $15.1 billion takeover of Nexen Inc. (NXY) and Petroliam Nasional Bhd.’s C$5.2 billion ($5.2 billion) takeover of Progress Energy Resources Corp. (PRQ)

via Canada Approves Both Cnooc-Nexen, Petronas-Progress Deals – Bloomberg.



North American Energy Security
November 12, 2012, 00:23
Filed under: Uncategorized | Tags: , , , , , ,

BEIJING- The chairman of China’s CNOOC Ltd. said Friday that he was confident that the state-controlled oil giant’s proposed $15.1 billion buyout of Canada’s Nexen Inc. would be completed by the end of the year. 

via RIGZONE – CNOOC Chairman: Confident Nexen Deal Will Be Completed by Year-End.



More on China Buying Up Canadian “Oil Sands”

Recall that American consumers are (strongly) encouraged to think of Canadian production as domestic production.

CNOOC’s blockbuster deal for Nexen, if nothing else, is a stark indication of how far the goal posts have moved not only for Canada’s oil patch, but also for world oil demand. Only four or five years ago, the notion that a state-owned Chinese company could buy—lock, stock and barrel of bitumen—one of Canada’s premier oil names was politically unthinkable. Any such deal was sure to be turned down by Ottawa under its Foreign Investment Review Act (not to mention the hue and cry that would come from Alberta’s provincial government).

Today, that’s all changed. CNOOC’s $15-billion offer for Nexen follows a number of major foreign transactions in Canada’s energy sector. Among others, Malaysian energy giant Petronas is paying $5.5-billion to get at Progress Energy’s natural gas reserves in British Columbia. Earlier this year, PetroChina completed a two-pronged deal for Athabasca Oil Sands Corp. that tallied $2.5-billion. In 2010, Sinopec paid $4.65-billion for a 9 percent stake in Syncrude, which runs Alberta’s largest oilsands mine.

via CNOOC’s Nexen Bid Shows How Far Goal Posts Have Moved | Jeff Rubin.

See this too.



Who Owns the Tar Sands?

http://www.desmogblog.com/tar-sands-oil-companies-71-percent-foreign-owned-cue-ezra-levant-s-outrage

In a recent Bloomberg interview, Dan Yergin suggested we consider Canada as “not a foreign country,” thus oil from Canada is just like oil produced within the United States. Voila! Turns out oil from Canada is not even like oil from Canada.



Tar sands mining: peatland destroyed and stored carbon released

They also say that the peatlands under consideration are currently holding on to 11-47 million metric tons of carbon that will be released into the atmosphere as part of the mining process. And then, because the mining companies plan to return the land to dry forest instead of the original peatlands, the area will lose the ability to sequester carbon in the future; this they say will add up to about 5,700-7,200 mt of carbon each year, which they say should be looked at as a net gain of carbon emissions each year.

via http://www.physorg.com/news/2012-03-university-team-canadian-oil-sands.html

Abstract:

Oil sands mining and reclamation cause massive loss of peatland and stored carbon.



Economic threshold of oil from Canadian tar sands

More commonly, less accurately known as oil sands.

From Canada’s Energy Future (pdf), a 2011 report from the National Energy Board.

The threshold will be highly dependent on the price of natural gas.



China moves into British Columbia
February 2, 2012, 22:01
Filed under: Uncategorized | Tags: , , , , , , , ,

Adding to their already massive holdings in Alberta.

Via Rigzone: http://www.rigzone.com/news/article.asp?a_id=114805&hmpn=1

See this also.



2011 API numbers

…show US, though producing more and consuming less, still importing over 11 mbd in 2011, with just over 2 mbd from Canada.

Via Oil & Gas Journal.


click to enlarge




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