$7.25 US Per barrel

Did you think the 90s were something?

It was all driven by cheap oil.

Well guess what -- the oil is getting even cheaper...and good times are
back thanks to George Bush's Energy policies!

http://www.petroleumnews.com/pnarch/010328-19.html

Athabasca oil sands development booms in northern Alberta

Up to C$40 billion in projects in the works; would increase oil sands
output to 1.7 million barrels a day by 2015

Gary Park

PNA Canadian Correspondent

There may be no stranger place in the world to find a traffic jam than
the 50 miles of Highway 63, north of Fort McMurray. Almost around the
clock, the “road to nowhere” from northern Alberta’s oil sands capital
is packed with cars, buses and trucks ferrying 10,000 permanent staff
and construction workers to the scene of Canada’s most dizzying
investment boom.

It is a region bursting with optimism, where the National Energy Board
has estimated up to C$40 billion worth of projects are in various stages
of development to raise oil sands output, currently almost 340,000
barrels a day, to 1.7 million BPD by 2015, accounting for 50 percent of
total Canadian crude yield.

After 30 years of being viewed skeptically as it grappled with untried
and flawed technology, the Athabasca region is suddenly seizing the
spotlight.

When Canada’s Prime Minister Jean Chretien held his first meeting with
President George W. Bush in February, the oil sands figured large as the
two leaders spoke “at length” on energy matters, with Chretien
predicting that synthetic crude could soon be produced for C$11 a barrel
(about US$7.25).

“It was not a casual conversation,” Chretien said. “My understanding is
that (officials in the new U.S. administration) see the energy crisis in
California as a serious problem and they are looking at what they have
to do to reduce their reliance on oil from the Middle East. They want to
know what kind of collaboration they can develop with us.”

Chretien said no projects anywhere in the world could offer greater
long-life, security-of-supply potential than the oil sands.

Khoy Dian Pinnian wrote:
Did you think the 90s were something?

It was all driven by cheap oil.

Well guess what -- the oil is getting even cheaper...and good times
are back thanks to George Bush's Energy policies!

You mean thanks to Canada. Bush had nothing to do with it and
Haliburton is busy with their hand up his ass. The oil sands are
Canadian, the money invested is Canadian, the technology is
Canadian and the oil company is Canadian.


http://www.petroleumnews.com/pnarch/010328-19.html

Athabasca oil sands development booms in northern Alberta

Up to C$40 billion in projects in the works; would increase oil sands
output to 1.7 million barrels a day by 2015

[...]

When Canada’s Prime Minister Jean Chretien ...

Wow! That Bush sure is a busy bee. I had no idea he was
moonlighting as Prime Minister of Canada under an assumed
name.

Bush The Clown wrote:
Khoy Dian Pinnian wrote:

Did you think the 90s were something?

It was all driven by cheap oil.

Well guess what -- the oil is getting even cheaper...and good times
are back thanks to George Bush's Energy policies!


You mean thanks to Canada. Bush had nothing to do with it and
Haliburton is busy with their hand up his ass. The oil sands are
Canadian, the money invested is Canadian, the technology is Canadian and
the oil company is Canadian.

Yeah, if we get rid of the freaking NAFTA, the oil will be Canadian
again as well.