Hi Rayelan,
I live in Calgary Alberta Canada, and and am currently studying Business Supply
Chain Management and plan to go into the oil and gas sector in Alberta in
around 4-6 years.
The oil sands fuel the economy of this province. There are billions and
billions of dollars in the sand up north.
The problem is that they cannot separate the the sand from the oil fast enough.
However that is not to say that production is lacking in any way.
New production techniques and technology are always developing.
"With the development of new in-situ production techniques such as steam
assisted gravity drainage, and with the oil price increases of 2004-2006, there
were several dozen companies planning nearly 100 oil sands mines and in-situ
projects in Canada, totaling nearly $100 billion in capital investment. With
2007 crude oil prices significantly in excess of the current average cost of
production for tar sands of $28 per barrel [2] all of these projects appear
likely to be profitable. However, tar sands production costs are rising
rapidly, with production cost increases of 55% since 2005, due to shortages of
labor and materials."
New production techniques and technology are always under constant development,
decreasing production costs and increasing overall production.
Production costs are only increasing because of a lack of labor and materials.
"In mid-2006, the National Energy Board of Canada estimated the operating cost
of a new mining operation in the Athabasca oil sands to be $9 to $12 per
barrel, while the cost of an in-situ SAGD operation (using dual horizontal
wells) would be $10 to $14 per barrel. This compares to operating costs for
conventional oil wells which can range from less than $1 per barrel in Iraq and
Saudi Arabia to $6 and up in the United States and Canada.
I believe the oil deposits are being rationed, and that in the future when the
demand and profitability is through the roof they will then ramp up
production."
So, the production costs are clearly no where near $1 per barrel as claimed
possible by Andrew Carlssin, but are getting closer every year.
US imports in 2004
Country Millions of dollars Percentage
Canada 255928 17.41401%
China 196699 13.38392%
Mexico 155843 10.60397%
Canada has China and Mexico beat. The majority of Canadian gas and oil goes to
the U.S.A. Canadian gas and oil fields are I believe 2nd largest in the world.
Also, unlike Saudi Arabia, Iran, Iraq, U.A.E., or Venezuela, Canada is a
stable non-volatile friendly next door neighbor.
The Mackenzie Gas Project is also another multi-million dollar project
underway.
Also Water.
"Canada is one of the most fortunate nations when it comes to available
freshwater: Canada has only 0.5% of the world's population, but its landmass
contains approximately 9% of the world's renewable water supply"
Some forum about I was reading tonight about Andrew Carlssin made a good
point.
"If you know enough to come back in time and make a fortune, you will do it
with the knowledge needed to get away with it."
Another thing I thought was kind of silly was that if he took his 800$ and
simply opened a savings account with compounding interest in 2003, he probably
would have the millions he needed in 2203.
Perhaps there is massive inflation in the future...
Who knows maybe he needed the money to make his next finance payment on his
brand new time machine.
Haha.
Serving Freedom
and Liberty
