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Wookie
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I remember reading about that a few years back, they did it up in Canada for a whlie. The cost of mining and processing is so much more than drilling for crude oil. So they gave up and just keep drilling. It'll come to Oil Shale soon enough I bet. Probably in the next 20-30 years if the world keeps going the way it is.
 

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That's nacho cheese!
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$69 and change a barrel. Shale is right around the corner, baby. "Fill it up with algae, please"
 

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Official thread derailer
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Discussion Starter · #4 ·
ragdoll said:
I remember reading about that a few years back, they did it up in Canada for a whlie. The cost of mining and processing is so much more than drilling for crude oil. So they gave up and just keep drilling. It'll come to Oil Shale soon enough I bet. Probably in the next 20-30 years if the world keeps going the way it is.

Actually the oil sands are what they have been mining in Canada. Oil shale is a different animal alltogether.

Canada
Canada's proven oil reserves in recent years have been raised from total conventional oil reserves of around 5 billion barrels, to the much larger figure of around 180 billion barrels which includes the Athabasca Oil Sands [3] deposit, placing Canada second to only Saudi Arabia. Other estimates (BP Statistical Review of World Energy) place Canada's petroleum reserves in the 17 billion barrel range, by only counting oil sands under development. However, oil company estimates of oil sands reserves can be misleading to the average person because oil sands do not really contain oil at all, but a semisolid hydrocarbon known as bitumen. Oil companies only book them as oil reserves after they build a strip mine or thermal facility to extract them and an upgrader to convert them to synthetic crude oil (syncrude or SCO). Thus, when the oil price rises to a high enough level, and the companies spend billions of dollars to build production facilities, the oil magically appears on their books as if from nowhere.

When oil prices were low, Canadian oil sands companies such as Suncor Energy and Syncrude reduced their costs to around US $15/bbl. As a result, the oil price increases of 2004 and 2005 to over $60/bbl is definitely high enough to attract investment capital, and there are now nearly $100 billion worth of projects under construction or planned in the Canadian oil sands. The main constraint on their development is a severe labor and housing shortage in Fort McMurray, the only significant community in the oil sands area. Canadian oil sands production in 2005 was around 1 million barrels per day, or half of total Canadian oil production. It is expected to rise to 2 million bpd or 67% of Canadian production by 2010 and by 2015, if world oil prices stay high, it may be as high as 4 million bpd.
 
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