Alberta’s Crude Oil Resources What is crude oil? Crude oil is found trapped in the underground rock; it is a natural occurring mixture of hydrocarbon compounds, cause from dead marine life and vegetation from millions of years ago. These materials had died and settled on the bottoms of streams, lakes, and oceans; where sediment had then covered this thick layer of organic materials, which applied heat and cooked this layer of materials to form what we now extract from the ground as petroleum. The critical part of Alberta’s past, present, and future depend on the drilling rigs on the prairies. Since 1914, when Alberta’s first major oil field was discovered at Turner Valley, oil resources have been a very important facet of the provinces ways of life. Alberta's oil industry is an important part of the provinces economy. It has provided thousands of jobs in production, transportation, refining, distribution, and marketing. Crude oil production has been the third-largest source of …show more content…
The Alberta oil sands, 81% of them, are controlled and owned by the Alberta Crown, and royalties are for the people of Albert. The last 19% is owned by the Alberta Federal government within the Aboriginals reserves and by the Hudson's Bay Company, by the railway companies and by the descendants of original homesteaders through rights granted by the Federal Government before 1887. New projects that begin every year are believed to increase to 3 billion barrels per day by 2018, which means Lots of great things for the economy and the job force. The availability of crude oil is high.
References
Government of Alberta. (2013). Facts and statistics. Retrieved from http://www.energy.gov.ab.ca/OilSands/791.asp
Government of Alberta. (2013). Oil. Retrieved from http://www.energy.gov.ab.ca/OilSands/791.asp
Government of Alberta. (2013). Oil Sands. Retrieved from
Through progress, Canadian Natural Resources Limited had progressed to primary heavy crude lands in 1993 and purchasing thermal in-situ areas 3 years later, becoming a leader in the in-suti crude oil developments. As of 2000, they sought out to acquire assets from The North Sea along with Offshore Africa while also creating gas conservation with equipment including "pipelines, pad compressors, booster compressors, gas plants, and fuel lines" (Canadian Natural Resources Limited Performance Presentation Primary Recovery Heavy Oil Sands Schemes, n.d.) While continuing to strengthen the Northwestern Alberta and British Columbia 's basins, Canadian Natural Resource Limited furthered their achievements by recognizing synthetic crude oil at the Horizon Oil sands, leading to a shipment of such into the sales pipeline. Also in 2008, Canadian Natural Resources seeked out the ‘Kirby In-Situ Oil Sands’, hoping for approval on another project. From the beginning Canadian Natural Resources has strived to achieve something different and make an impact. Throughout the history of the company, Canadian Natural Resources has continued to search for new and economic ways to improve the company, "predict[ing] an oversupply of natural gas could last as long as seven years, keeping prices low"( 2011, March. CNRL
The Athabasca Delta is a breeding ground for species of birds, which was destroyed to clear the land for oil development. These development practices are a leading factor towards increases in pollution. A scientific panel stated on Tuesday that pollution must be corrected, as there are major debates against the oil sands development. Proponents argue that business through the Oil Sands has made Canada a major player in foreign supplement. Unemployment rates have decreased across Canada and companies generate huge profits. The Alberta Oil Sands provide Canada with a secure source of energy. Throughout the world, Canadian oil reserves are the second largest in the world. Oil mining operations in Canada also help create more trading partnerships with different countries. This is a great way Canada can strengthen relationships and ties with various nation-states. The Oil Sands is a stabilizing force for Canada’s economy, yet it has a tremendous effect on the environment. Corporations are held responsible for their actions, and environmental protection should be their main concern. The procedures that the Oil Sands has taken are not effective, to an extent, where the pace of investment and development in the oil sands
The Alberta tar sands, is currently the largest construction project taking place in the world, and as such is a very important
These factors result in several issues and challenges. These matters have brought a conflict between the various stakeholders in this industry (Oilsandstruth.org, 2015). This discussion aims to identify the primary issues associated with the Canada oil sands and the involved stakeholders. Secondly, the stakeholders’ political view will be established. Finally, the discussion will recommend policies that can be effective in solving the challenges associated with the issues.
The social community improvements of alberta as a result of the oil sands. The albertan government committed around 2.5 billion dollars in fixing up the communities of alberta as a result of the oil sands making so much money(Alberta government,march 15 2013). Some examples of this are the 1 billion in road projects, 241 million in building new neighbourhoods, and 103 million in wastewater treatment and to improve the old ones(Alberta government,march 15 2013). Air is rated good 99% of the time, drinking water consistently meets the the guidelines for canadian drinking water(Alberta government,march 15 2013). Which means the quality of life is good in the oilsands region. In conclusion the oil sands affect the communities of that region positively, by bringing in enough money to make improvements to the infrastructure.
Government has been working closely with industry for years, which is also a key factor in developing the oil sands in a socially responsible way. Most major oil companies are involved with initiatives like Water for Life Strategy, Alberta Water Council and Petroleum Technology Alliance Canada (CAPP, 2012). Alberta’s oil sands are being developed with social responsibility in mind.
This 1.4 trillion-dollar industry has been able to benefit Albertans. To elaborate, Alberta’s upstream energy sector, which mainly includes the oil sands, conventional oil as well as gas and mining has provided 133,053 jobs for Alberta residents, according to Statistics Canada. As well, having the third largest oil reserves in the world, Canada is able to use the oil reserves as a trading asset, as it is currently providing 1.4 million barrels of oil to the USA everyday, which is equivalent to $49.7 million at current stock prices. As well, $52 billion dollars in royalty were accounted for during 2013-14. In this way, the oil sands industry provides jobs, billions of dollars in royalties and boosts national income and prosperity through the trading of this resource. This affects my stakeholder since this would give Ed Stlemech a healthy financial resume/profile to an otherwise terrible environmental and societal resume while he was Alberta’s
People that support the oil sands argue that they're beneficial for our economy, jobs and energy, but what happens when the oil sands are gone? Canada depends on the oil sands very heavily for those things so once they're gone we're going to be scrambling to find other sources to replace what the oil sands provides for us for so long. The oil sands are making around 23 billion dollars per year and makin 151 000 jobs which means Canada will need to find another way to make that money and jobs. Once the oil sands are gone, Canada will be desperate for somewhere to get money, jobs and
The question that has arisen from this shift is whether or not the Canadian oil and gas industry inclusive of the upstream, and midstream sectors, has a net positive benefit to Canada. This essay will explore and seek to understand the myriad of issues that this industry faces daily.
Countries having the bituminous sand but the wide range of this sand are finding in Canada. The research show that this company is important for economy and showing robust future in the future because in 2004, the processing of engineered unrefined petroleum (SCO) and natural rough bitumen spoke to 41 percent of aggregate Canadian oil generation. At an accepted WTI cost of $32 for every barrel, the oil sands generation is relied upon to expand three fold by 2017, helping considerably more than 50% of Alberta's oil supply. The normal elevated amount of oil action ought to prompt gigantic budgetary development in the district and in addition in the area. The number of inhabitants in the locale (i.e., Wood Buffalo-Cold Lake Economic Region7) has expanded by 8 percent between 2000 and 2004. This contrasts and a development of 7 percent for the region, and 5 percent for the country over the same period. The development and improvement in the oil sands industry at the provincial level affects the common, national
people of this region are known as being farmers. Although there are many non-farmers in this
The production of oil is one of Canada’s greatest assets as it brings in lots of profit but British Columbia is one the most beautiful places in the world and is a prime tourism area. This leads to the question is oil transportation right for British Columbia? Enbridge plans to build two pipelines that will carry oil from “central Alberta to coastal BC” (Alternatives Journal, 2012). Enbridge Incorporated is a company that is a main transporter of natural gas, crude oil and other liquids in Canada, as well as a major operator of pipelines in North America. Their plan is to run two 1170-kilometer pipelines across BC that will eventually be moving about 520,000 barrels of oil per day; this
While the Alberta oil sands are critical to the Canadian economy, environmental policies must be strengthened in order to diminish the immense risk in the transportation of crude oil, the harming of human health, and the deterioration of the surrounding
The statement ‘Canada oil sands are much more of a blessing rather than a curse’ is not true because the disadvantages of oil sands outweigh the advantages. For this reason, this paper aims at indicating points against the statement. To understand the defects of oil sand exploration in Canada, one has to delve into the explanation of what oil sands are as well as how the entire process of mining and refining and thereafter, determine the disadvantages based on socioeconomic factors, environmental factors, as well as the infrastructure and energy required for its production.
Oil also plays a big role in Canadian’s everyday lives. Not only does oil fuel our vehicles, cook our food and heat our homes and generate electricity; it is also used in almost everything we use on a daily basis. From rain, snow or sunshine and from head to toes, you could be wearing petroleum-based products. There’s more than gas in your vehicle, tires, mud flaps, wiper blades, your vehicle is an oil and gas machine. From the time, you wake up and put your coffee maker on, until you set your alarm clock at night. You’re using oil products. We use hundreds of petroleum-based oil products every day from household appliances, electronics, personal products and much more. In an article about oil and Canada’s future it states “These along with