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Re: Alberta Ca Oil Fields
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Posted by Bill in NC on August 30, 2005 at 20:51:52 from (65.188.155.69):
In Reply to: Alberta Ca Oil Fields posted by Dave Sherburne,NY on August 30, 2005 at 14:10:31:
Some thoughts: 1) They tell me companies such as Suncor working the Alberta oil sands is profitable whenever world oil prices are greater than $15 US. At today's prices Suncor is printing money. The good news is with that money rolling in they (and the other companies working the oil sands) can reinvest and expand their operations. 2) North America has a huge, huge amount of relatively cheap energy in coal sources. There is a lot of action occuring with coal conversion processes. A recent Forbes magazine article said GE is building a coal gasification plant beside a big utility generator in the Ohio River area to supply ultra clean and efficient burning energy to the generating station. We will likely see more such sites in the next ten years. Also, at some price point, coal to gasoline & diesel fuel conversion plants is a go. 3) The bad news is we may see $3.00/gallon gas for a long time. The good news is that we may see greater North American energy independence as a result. 4) I don't work for an energy company and don't have any stock in Suncor (darn it!).
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