I do not have the current price that Chicago area refineries are paying for tar sands crude.
About 20 months ago. it was $13.00 per barrel and less.
A CD contributor wrote that this work is costing Alberta and the Canadian governments billions of dollars.
There have been buy outs up there.
Yes, a ruptured line spills way too much. One protection is using double pipe under creeks, rivers, swamp lands. The space between the outer pipe and inner pipe is the annulus. This is held in a slight vaccumn. If the inner pipe fails and crude pressure sets off alrm, shuts off pumps and closes valves.
That is one cheap method. There are others using harmonics that resonate on the steel pipe, etc.
British Petroleum luvvvvs canadian sand crude in their Whiting, Indiana refinery. It also flows east through lower Michigan to Sarnia, Ontario.
The Government of Alberta is running up huge deficits. This due in part to the crash in the economies and the plummeting of oil prices.
Where they COULD have had a trust fund of some 900 billion dollars built had they stuck to Peter Lougheeds plan for saving some of that oil wealth for future generations (A model which Norway later copied) they decided instead to slash Royalty rates on Oil so as to attract more investment.
All that in that trust fund is some 18 billion dollars.
The premier of Alberta recently announced what he deemed as “bold initiatives” to diversify the Alberta economy so as to make it not so reliant on that tar sands oil. A number of attempts to get that oil to market were blocked when protestors and court cases delayed the construction of Oil pipelines.
So what is the latest huge investment this Government proposes so as to diversify the Alberta economy?
They want to help build a rail line up through Canada’s North and Into Alaska so that they can ship oil out through ports in Alaska.
I mean you can not make this stuff up.
I recall a friend asking me to read a prospectus about tar sands. The prospectus read that for tar sands to become profitable the price for a gallon of gas would have to reach so many dollars and cents. And, voila, ~ 6 months later as the prospectus projected, the hedge funds drove the price of gas up. There should be a bunch of people going to prison!
Calling William K. Black!
Science’s finger of blame for climate change destruction remains fixed on fossil fuel combustion. Sooner or later, depending on just how much humanity will continue to financially tolerate with respect to lost coastal area due to rising sea levels; seafood loss due to reef death caused by rising sea temperatures and ever increasing hurricane wind speed destruction of property: We will finally need to accept that “inconvenient truth”: We Have To Quit Oil. Forsaking the polluting, money losing tar sands would be a very good place to begin the winding down.
fossil fuel corporations–the epitome of capitalist exploitation–the corporations with the business plan that is degrading our ecosystems ,destroying our communities and harming the people who live around that exploitation–for a few dollars more
clearly capitalism is the disease that is killing us
Book 'em Danny.