Re: Is Athabasca a unique formation?

From: Dave Gower (davegow.removethis_at_magma.ca)
Date: 06/14/04 

Date: Mon, 14 Jun 2004 07:13:17 -0400

"Dan Bloomquist" <EXTRApublic20@lakeweb.com> wrote

> Please cite this. Current production, as I last read, is 1-2 mbbl/day
> from Canada. The world will be pushing 90+ before long...
>
> Saudi pumps at $1.50/bbl. Canadian runs $20+/bbl with current economic
> input. I'm I dreaming or you???????

I don't think he was implying that Alberta produces 20mbbl/day, merely that
the closeness of the U.S. market makes it more economically viable to run an
extraction operation than in Siberia. There are huge up-front costs to
starting an extraction operation, and therefore you have to have assurance
of a substantial stable sales flow before beginning such an operation.

The Russians, quite sensibly, are in no rush to extract their vast reserves,
nor even to admit how big they are. Right now they're just smiling all the
way to the bank selling their existing output at $40 a barrel. I suspect
that in a half-century from now they'll dominate what's left of the world
petroleum market. It's their ticket to the good life for the next
generations.