July 2009
- Thread starter Ally
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Oil Sands less Dirty than thought
CALGARY -- The Alberta government shot back at international oil sands critics Thursday, releasing two reports that argue crude produced from the sticky sands in the northern part of the province is not as devastating to the environment as previously believed.
The reports, commissioned by the Alberta Energy Research Institute, show direct greenhouse gas emissions from Alberta`s oil sands are on average about 10% higher than emissions from other sources of crude refined in the United States. Other studies have put this number closer to 40%.
However, one of the new studies also shows crude from Canada`s oil sands produces roughly 45% more greenhouse gas emissions when compared with Saudi conventional crude oil.
"[Oil sands crude] is not terrible relative to the main crudes that do go to U.S. refineries," said Eddy Isaacs, AERI`s executive director.
Read the full article here.
CALGARY -- The Alberta government shot back at international oil sands critics Thursday, releasing two reports that argue crude produced from the sticky sands in the northern part of the province is not as devastating to the environment as previously believed.
The reports, commissioned by the Alberta Energy Research Institute, show direct greenhouse gas emissions from Alberta`s oil sands are on average about 10% higher than emissions from other sources of crude refined in the United States. Other studies have put this number closer to 40%.
However, one of the new studies also shows crude from Canada`s oil sands produces roughly 45% more greenhouse gas emissions when compared with Saudi conventional crude oil.
"[Oil sands crude] is not terrible relative to the main crudes that do go to U.S. refineries," said Eddy Isaacs, AERI`s executive director.
Read the full article here.
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Competitiveness Returns to Alberta: EnCana
Lower Alberta royalties and declining costs are restoring the competitiveness of some natural gas fields in Western Canada, the CEO of EnCanaCorp. said yesterday.
While Western Canadian gas struggled in recent years to measure up against massive shale discoveries in the United States, like the Barnett Shale in Texas and the Haynesville in Louisiana, Randy Eresman said those conditions are changing in Western Canada`s favour.
"There are and have been certain challenges historically being in Canada, with a higher overall cost structure and challenges often times with rapid changes in exchange rates, and the access to supplies and services," Mr. Eresman told analysts in a conference call.
"That situation has largely been reduced right now. We are seeing significant opportunities arise in Western Canada. The royalty structure that the Alberta government [put in place] works in our favour today, so there are plays that are actually becoming more competitive compared to the U. S."
EnCana, Canada`s largest natural gas producer, has been an aggressive developer of new shale opportunities in the United States.
Read the full article here.
Lower Alberta royalties and declining costs are restoring the competitiveness of some natural gas fields in Western Canada, the CEO of EnCanaCorp. said yesterday.
While Western Canadian gas struggled in recent years to measure up against massive shale discoveries in the United States, like the Barnett Shale in Texas and the Haynesville in Louisiana, Randy Eresman said those conditions are changing in Western Canada`s favour.
"There are and have been certain challenges historically being in Canada, with a higher overall cost structure and challenges often times with rapid changes in exchange rates, and the access to supplies and services," Mr. Eresman told analysts in a conference call.
"That situation has largely been reduced right now. We are seeing significant opportunities arise in Western Canada. The royalty structure that the Alberta government [put in place] works in our favour today, so there are plays that are actually becoming more competitive compared to the U. S."
EnCana, Canada`s largest natural gas producer, has been an aggressive developer of new shale opportunities in the United States.
Read the full article here.
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EnCana Bullish on Horn River Shale Gas Play
EnCana Corp. on Thursday said the Horn River shale could be one of the most important gas finds in North America, building on earlier optimism that the remote unconventional natural gas deposit has the potential to dramatically alter the continental supply picture.
Although initial results from a pilot program have been "encouraging," CEO Randy Eresman said it is still too early to commit to full-scale commercial development. Nonetheless, he said Horn River has enough gas to become "one of the most important plays in our company."
Horn River resource estimates vary, ranging from 100 trillion to more than 600 trillion cubic feet. The amount of gas in unconventional plays in Canada and the U. S. will prompt EnCana to encourage policy-makers to promote large-scale use of cleaner burning natural gas for electrical power generation and for use as a transportation fuel in cars and trucks, Eresman said.
"The emergence of shale gas changed the landscape for North American natural gas," he told a conference call to discuss the company`s lower second-quarter financial results. " There is an opportunity to expand the market for natural gas to displace significant quantities of coal and crude oil."
Read the full article here.
EnCana Corp. on Thursday said the Horn River shale could be one of the most important gas finds in North America, building on earlier optimism that the remote unconventional natural gas deposit has the potential to dramatically alter the continental supply picture.
Although initial results from a pilot program have been "encouraging," CEO Randy Eresman said it is still too early to commit to full-scale commercial development. Nonetheless, he said Horn River has enough gas to become "one of the most important plays in our company."
Horn River resource estimates vary, ranging from 100 trillion to more than 600 trillion cubic feet. The amount of gas in unconventional plays in Canada and the U. S. will prompt EnCana to encourage policy-makers to promote large-scale use of cleaner burning natural gas for electrical power generation and for use as a transportation fuel in cars and trucks, Eresman said.
"The emergence of shale gas changed the landscape for North American natural gas," he told a conference call to discuss the company`s lower second-quarter financial results. " There is an opportunity to expand the market for natural gas to displace significant quantities of coal and crude oil."
Read the full article here.
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Report on Oilsands Emissions does not absolve Alberta Industry
CALGARY - A study benchmarking full life-cycle greenhouse gas emissions from Alberta`s oilsands against other crude oils refined in the United States doesn`t absolve the province from finding more ways to produce cleaner-burning oil, a spokesman associated with the research said Thursday.
The report compiled information from two separate studies to conclude emissions resulting from refining Canadian oil sands were approximately 10 per cent higher than international and domestic US sources, but were approximately the same as heavy oil produced in California.
"We`re here, this is where we are but we have a ways to go down, and we can go down and should go down," Eddy Isaacs, managing director of the government-created Alberta Energy Research Institute said. "This should not be seen as absolving the energy industry in Alberta to doing their utmost to get down to the levels as much as possible as low as possible."
The study was undertaken to provide a benchmark to decision makers on the full life-cycle of crude oils, from well to exhaust pipe, rather than having them rely on perception, he said.
"We don`t think we should be compared by ourselves, we think we need to compare with world crudes, and that`s what this study is trying to do," Isaacs added.
Read the full article here.
CALGARY - A study benchmarking full life-cycle greenhouse gas emissions from Alberta`s oilsands against other crude oils refined in the United States doesn`t absolve the province from finding more ways to produce cleaner-burning oil, a spokesman associated with the research said Thursday.
The report compiled information from two separate studies to conclude emissions resulting from refining Canadian oil sands were approximately 10 per cent higher than international and domestic US sources, but were approximately the same as heavy oil produced in California.
"We`re here, this is where we are but we have a ways to go down, and we can go down and should go down," Eddy Isaacs, managing director of the government-created Alberta Energy Research Institute said. "This should not be seen as absolving the energy industry in Alberta to doing their utmost to get down to the levels as much as possible as low as possible."
The study was undertaken to provide a benchmark to decision makers on the full life-cycle of crude oils, from well to exhaust pipe, rather than having them rely on perception, he said.
"We don`t think we should be compared by ourselves, we think we need to compare with world crudes, and that`s what this study is trying to do," Isaacs added.
Read the full article here.
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Bulk of Calgary`s Growth in `Burbs, Census says
CALGARY - When Quimo Perez opened Cranston Cleaners in 2004, he barely broke even in his first year. Now, the southeast dry cleaning business is twice as busy.
The secret?Well, it doesn`t hurt when the neighbourhood population grows from 2,692 to 9,140 over that time.
"It`s a long-term shot," Perez said. "You have to be patient, because you have to grow as the community grows."
New suburban communities continued to capture the bulk of Calgary`s population growth, the 2009 civic census revealed Wednesday.
Cranston was one of three subdivisions south of Highway 22x in the list of 10 fastest-growing communities, along with neighbouring Auburn Bay and Silverado. The other big gainers were around the ring road in the northwest, as well as the northeast.
Perez`s business corners the market for Cranston and Auburn Bay residents who don`t want to trek up the Deerfoot or head to McKenzie Towne for dry cleaning.
Read the full article here.
Click here to see the census results on a map.
CALGARY - When Quimo Perez opened Cranston Cleaners in 2004, he barely broke even in his first year. Now, the southeast dry cleaning business is twice as busy.
The secret?Well, it doesn`t hurt when the neighbourhood population grows from 2,692 to 9,140 over that time.
"It`s a long-term shot," Perez said. "You have to be patient, because you have to grow as the community grows."
New suburban communities continued to capture the bulk of Calgary`s population growth, the 2009 civic census revealed Wednesday.
Cranston was one of three subdivisions south of Highway 22x in the list of 10 fastest-growing communities, along with neighbouring Auburn Bay and Silverado. The other big gainers were around the ring road in the northwest, as well as the northeast.
Perez`s business corners the market for Cranston and Auburn Bay residents who don`t want to trek up the Deerfoot or head to McKenzie Towne for dry cleaning.
Read the full article here.
Click here to see the census results on a map.
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Calgary grows Despite `Gloom`
Despite the economy slowing and jobs disappearing, Calgary continued to lure thousands of people from other parts of the country last year, according to the latest civic census.
And the numbers indicate the city seems poised to better weather the latest market roller-coaster than downturns in the 1980s and 1990s, some analysts say, pointing out the 2009 net migration of 12,563 people is higher than the year before.
"It`s something to counter the perceptions of doom and gloom present in the economy," said Harry Hiller, director of the Alberta in-migration study at the University of Calgary. "It`s the opposite."
Mayor Dave Bronconnier called the numbers impressive, saying they buck trends across the country.
"It speaks to the resiliency of this economy, it speaks to Calgary as a place where people want to move to, want to start businesses, start a family," he said.
Read the full article here.
Despite the economy slowing and jobs disappearing, Calgary continued to lure thousands of people from other parts of the country last year, according to the latest civic census.
And the numbers indicate the city seems poised to better weather the latest market roller-coaster than downturns in the 1980s and 1990s, some analysts say, pointing out the 2009 net migration of 12,563 people is higher than the year before.
"It`s something to counter the perceptions of doom and gloom present in the economy," said Harry Hiller, director of the Alberta in-migration study at the University of Calgary. "It`s the opposite."
Mayor Dave Bronconnier called the numbers impressive, saying they buck trends across the country.
"It speaks to the resiliency of this economy, it speaks to Calgary as a place where people want to move to, want to start businesses, start a family," he said.
Read the full article here.
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Calgary`s Population growth expected to hold Steady
CALGARY - Census data being released today by the city is expected to show about the same population growth as last year, which some consider good news given the economic climate.
"I think it`s a huge thing, if it`s not dropping," said Harry Hiller, director of the Alberta in-migration study at the University of Calgary. He has not seen exact numbers. "It`s a huge indication of the fact that people are still coming to Alberta, to Calgary."
The census data released today will measure the population change between April 2008 and April 2009, including growth in individual neighbourhoods, people moving to the city and how many more births than deaths occurred.
In 2008, the census--measured between April 2007 and April 2008 -- showed Calgary grew by about 23,000 people. While down from the 28,000 the city grew by during the same period the year before, many viewed the 2008 rate of growth as beginning to be more manageable.
The city`s growth spiked in the 2006 census year, when the population expanded by 35,000 people.
Read the full article here.
CALGARY - Census data being released today by the city is expected to show about the same population growth as last year, which some consider good news given the economic climate.
"I think it`s a huge thing, if it`s not dropping," said Harry Hiller, director of the Alberta in-migration study at the University of Calgary. He has not seen exact numbers. "It`s a huge indication of the fact that people are still coming to Alberta, to Calgary."
The census data released today will measure the population change between April 2008 and April 2009, including growth in individual neighbourhoods, people moving to the city and how many more births than deaths occurred.
In 2008, the census--measured between April 2007 and April 2008 -- showed Calgary grew by about 23,000 people. While down from the 28,000 the city grew by during the same period the year before, many viewed the 2008 rate of growth as beginning to be more manageable.
The city`s growth spiked in the 2006 census year, when the population expanded by 35,000 people.
Read the full article here.
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Novel Downtown Development unbowed in face of Recession
CALGARY - Two years ago, when 40 luxury condominiums being constructed in the heart of downtown went for sale in the Le Germain Calgary mixed-use development, they were scooped up in one day.
Prices ranged from $840,000 to $3.5 million for the units, across the street from the Calgary Tower.
It was a testament to the booming economy.
Fast forward to today and the economy has changed drastically, hitting Calgary hard.
But Le Germain is marching forward with construction at 9th Avenue and Centre Street S.W.
"Everything is going to be ready. We really are on target," Christiane Germain, co-president of the Quebec-based Groupe Germain, said Tuesday while visiting Calgary.
Read the full article here.
CALGARY - Two years ago, when 40 luxury condominiums being constructed in the heart of downtown went for sale in the Le Germain Calgary mixed-use development, they were scooped up in one day.
Prices ranged from $840,000 to $3.5 million for the units, across the street from the Calgary Tower.
It was a testament to the booming economy.
Fast forward to today and the economy has changed drastically, hitting Calgary hard.
But Le Germain is marching forward with construction at 9th Avenue and Centre Street S.W.
"Everything is going to be ready. We really are on target," Christiane Germain, co-president of the Quebec-based Groupe Germain, said Tuesday while visiting Calgary.
Read the full article here.
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Crude tops $68 on Economic Optimism
Oil (CL-FT68.040.881.31%) rose to top $68 (U.S.) a barrel on Friday on optimism a turnaround in the global economy
would lift battered fuel demand.
Benchmark crude for September delivery settled up 89 cents at $68.05 a barrel, the highest settlement since July 1. The gains extended a rally that has pushed prices up more than 14 per cent since July 14.
London Brent crude rose $1.07 to settle at $70.32 a barrel, after topping $70 a barrel for the first time since July 1 earlier.
"The market is continuing to feel the strength of economic optimism
from the greater financial markets," said Gene McGillian, analyst for Tradition Energy in Stamford, Conn.
"I think the strength of the rally is derived mainly from the idea that as we enter the end of this year and early next year, further economic gains will kick demand back in."
Hopes for a rebound in the U.S. economy and demand have helped lift crude off lows below $33 a barrel hit in December, after slumping demand knocked oil from record highs near $150 hit in July, 2008.
Read the full article here.
Oil (CL-FT68.040.881.31%) rose to top $68 (U.S.) a barrel on Friday on optimism a turnaround in the global economy
would lift battered fuel demand.Benchmark crude for September delivery settled up 89 cents at $68.05 a barrel, the highest settlement since July 1. The gains extended a rally that has pushed prices up more than 14 per cent since July 14.
London Brent crude rose $1.07 to settle at $70.32 a barrel, after topping $70 a barrel for the first time since July 1 earlier.
"The market is continuing to feel the strength of economic optimism
from the greater financial markets," said Gene McGillian, analyst for Tradition Energy in Stamford, Conn."I think the strength of the rally is derived mainly from the idea that as we enter the end of this year and early next year, further economic gains will kick demand back in."
Hopes for a rebound in the U.S. economy and demand have helped lift crude off lows below $33 a barrel hit in December, after slumping demand knocked oil from record highs near $150 hit in July, 2008.
Read the full article here.
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- Oct 12, 2007
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Oilpatch called key to Canada`s future
CALGARY - The Alberta-centred petroleum industry will add $3.6 trillion to Canada`s gross domestic product and create nearly one million additional jobs over the next 25 years through the investment of $1 trillion, a study by a Calgary think-tank suggests.
In what it is describing as the most comprehensive study of its kind, the Canadian Energy Research Institute on Thursday said that good times in the oil industry will spill over to the rest of the economy.
"What we really show is that whether it`s tight gas development in British Columbia or oilsands development in Alberta or natural gas and oil development offshore Eastern Canada, it truly benefits all parts of Canada," said research vice-president Peter Howard.
read full article here
CALGARY - The Alberta-centred petroleum industry will add $3.6 trillion to Canada`s gross domestic product and create nearly one million additional jobs over the next 25 years through the investment of $1 trillion, a study by a Calgary think-tank suggests.
In what it is describing as the most comprehensive study of its kind, the Canadian Energy Research Institute on Thursday said that good times in the oil industry will spill over to the rest of the economy.
"What we really show is that whether it`s tight gas development in British Columbia or oilsands development in Alberta or natural gas and oil development offshore Eastern Canada, it truly benefits all parts of Canada," said research vice-president Peter Howard.
read full article here
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- Oct 12, 2007
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Horn River shale gas plays delay
Producers grappling with decade-low natural gas prices: report
CALGARY- Development of shale gas in north-eastern British Columbia, one of the hottest plays in North America, have slowed down as producers grapple with decade-low natural gas prices, according to a note in pipeline giant TransCanada Corp.`s second quarter report.
The Calgary-based said it was delaying the in-service date of the Horn River pipeline project, filed with the National Energy Board in May, one year to 2012.
"Horn River producers have recently notified TransCanada that they are extending their construction schedule for upstream production facilities which will enhance their ability to manage project costs," the pipeline operator and power player said Thursday.
read full article here
Producers grappling with decade-low natural gas prices: report
CALGARY- Development of shale gas in north-eastern British Columbia, one of the hottest plays in North America, have slowed down as producers grapple with decade-low natural gas prices, according to a note in pipeline giant TransCanada Corp.`s second quarter report.
The Calgary-based said it was delaying the in-service date of the Horn River pipeline project, filed with the National Energy Board in May, one year to 2012.
"Horn River producers have recently notified TransCanada that they are extending their construction schedule for upstream production facilities which will enhance their ability to manage project costs," the pipeline operator and power player said Thursday.
read full article here
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Four reason natural gas prices will stay depressed
While this would benefit gas consumers, it would have adverse consequences for Western gas producers and throw into question elements of the energy policies and environmental legislation currently being enacted
Often called "the clean fossil fuel," natural gas creates significantly lower emissions than coal when burned to generate electrical power or when substituted for home heating oil in our furnaces. However, rapid demand growth, depletion of existing resources and insufficient new production during the past decade resulted in record prices that put the economics of natural gas use squarely at odds with its environmental benefits.
When natural gas prices repeatedly exceeded $10 per 1,000 cubic feet in recent years, the cost of producing electricity from gas was more than double the cost of coal generation. The previously embattled coal industry was revived, and talk of clean-coal technologies quickly spread through industry and government circles.
read full article here
While this would benefit gas consumers, it would have adverse consequences for Western gas producers and throw into question elements of the energy policies and environmental legislation currently being enacted
Often called "the clean fossil fuel," natural gas creates significantly lower emissions than coal when burned to generate electrical power or when substituted for home heating oil in our furnaces. However, rapid demand growth, depletion of existing resources and insufficient new production during the past decade resulted in record prices that put the economics of natural gas use squarely at odds with its environmental benefits.
When natural gas prices repeatedly exceeded $10 per 1,000 cubic feet in recent years, the cost of producing electricity from gas was more than double the cost of coal generation. The previously embattled coal industry was revived, and talk of clean-coal technologies quickly spread through industry and government circles.
read full article here
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- Oct 12, 2007
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Alberta`s recovery may be slower, expert warns
A leading Western Canadian business expert says Alberta`s resource-based economy may not recover from recession as quickly as some expect.
The Alberta government said this week it expects an overall economic contraction this year of two per cent but said a return to growth could begin as soon the end of this year.
That was in line with a forecast by the Conference Board of Canada, which said recovering oil prices would lead to more jobs and increased consumer consumption.
But Helmut Mach, director of the Western Centre for Economic Research and the School of Business at the University of Alberta, said that despite some positive signs, it`s unlikely the economy will spring back that quickly.
"The coming year might see some stabilization primarily as a result of a lot of infrastructure spending by the province and the federal government and the municipalities," said Mach. "But the main drivers of the Alberta economy — the oil, natural gas, oilsands, forestry and agriculture — are going to be lucky to be stable."
read full article here
A leading Western Canadian business expert says Alberta`s resource-based economy may not recover from recession as quickly as some expect.
The Alberta government said this week it expects an overall economic contraction this year of two per cent but said a return to growth could begin as soon the end of this year.
That was in line with a forecast by the Conference Board of Canada, which said recovering oil prices would lead to more jobs and increased consumer consumption.
But Helmut Mach, director of the Western Centre for Economic Research and the School of Business at the University of Alberta, said that despite some positive signs, it`s unlikely the economy will spring back that quickly.
"The coming year might see some stabilization primarily as a result of a lot of infrastructure spending by the province and the federal government and the municipalities," said Mach. "But the main drivers of the Alberta economy — the oil, natural gas, oilsands, forestry and agriculture — are going to be lucky to be stable."
read full article here
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Oilpatch called key to Canada`s future
CALGARY - The Alberta-centred petroleum industry will add $3.6 trillion to Canada`s gross domestic product and create nearly one million additional jobs over the next 25 years through the investment of $1 trillion, a study by a Calgary think-tank suggests.
In what it is describing as the most comprehensive study of its kind, the Canadian Energy Research Institute on Thursday said that good times in the oil industry will spill over to the rest of the economy.
"What we really show is that whether it`s tight gas development in British Columbia or oilsands development in Alberta or natural gas and oil development offshore Eastern Canada, it truly benefits all parts of Canada," said research vice-president Peter Howard.
read full article here
CALGARY - The Alberta-centred petroleum industry will add $3.6 trillion to Canada`s gross domestic product and create nearly one million additional jobs over the next 25 years through the investment of $1 trillion, a study by a Calgary think-tank suggests.
In what it is describing as the most comprehensive study of its kind, the Canadian Energy Research Institute on Thursday said that good times in the oil industry will spill over to the rest of the economy.
"What we really show is that whether it`s tight gas development in British Columbia or oilsands development in Alberta or natural gas and oil development offshore Eastern Canada, it truly benefits all parts of Canada," said research vice-president Peter Howard.
read full article here
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- Oct 12, 2007
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Economy climbing back, but from `deeper hole` than expected
Manufacturing, energy lead decline in May
OTTAWA -- The end may be in sight for Canada`s recession, but it will have to "crawl out of a deeper hole"than anybody expected, economists said Friday,
In May alone -- less than two months before the Bank of Canada declared the recession all but over -- the economy was in deep decline, as key industries like energy and manufacturing continued to contract, Statistics Canada said Friday.
The economy retreated by 0.5% in May -- a bigger slide than in any of the previous three months, and extending the economic downturn to 10 straight months, the federal agency said.
While most economists acknowledge the recovery will become evident in the coming months, BMO Capital Markets deputy chief economist Douglas Porter said May`s surprisingly big contraction means "the economy will need to crawl out of a deeper hole."
read full article here
Manufacturing, energy lead decline in May
OTTAWA -- The end may be in sight for Canada`s recession, but it will have to "crawl out of a deeper hole"than anybody expected, economists said Friday,
In May alone -- less than two months before the Bank of Canada declared the recession all but over -- the economy was in deep decline, as key industries like energy and manufacturing continued to contract, Statistics Canada said Friday.
The economy retreated by 0.5% in May -- a bigger slide than in any of the previous three months, and extending the economic downturn to 10 straight months, the federal agency said.
While most economists acknowledge the recovery will become evident in the coming months, BMO Capital Markets deputy chief economist Douglas Porter said May`s surprisingly big contraction means "the economy will need to crawl out of a deeper hole."
read full article here
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Oilsands boom coming, Rubin says
Alberta is on the verge of an oilsands boom, but the high prices necessary to fuel such an expansion will hammer the world economy and force profound change, says the former chief economist for CIBC World Markets.
Jeff Rubin told the Energy Services Summit meeting at the Shaw Conference Centre Friday that the oilpatch is the place to be, and predicts oil prices will once again hit $100 a barrel by next summer if the world economy quickly recovers from the deepest recession since the Second World War.
He said the Canadian dollar will soon be at par or above the U. S. greenback, and the oilsands region will once again be flooded with investment.
"But the better things get in Alberta, the worse things get in the rest of the world," he said.
read full article here
Alberta is on the verge of an oilsands boom, but the high prices necessary to fuel such an expansion will hammer the world economy and force profound change, says the former chief economist for CIBC World Markets.
Jeff Rubin told the Energy Services Summit meeting at the Shaw Conference Centre Friday that the oilpatch is the place to be, and predicts oil prices will once again hit $100 a barrel by next summer if the world economy quickly recovers from the deepest recession since the Second World War.
He said the Canadian dollar will soon be at par or above the U. S. greenback, and the oilsands region will once again be flooded with investment.
"But the better things get in Alberta, the worse things get in the rest of the world," he said.
read full article here