It looks like the price of oil is making new places attractive. The conventional oil may be in difficult places in the middle east. The rising prices have made the oil sands more attractive. So that the sands in Canada will become profitable. With oil at $5 a gallon the canadian sands become very profitable.
And guess what? Canadian's still pay more per gallon then people in the USA do. Lucky us, eh?
Have you noticed the price of the Canadian dollar compared tothe US dollar?
2003 it was 1.5 canadian to 1 us 2008 it less than 1 canadian to 1 usThat could in parts be because of their oil.
Then again the us dollar is also falling compared to Euro, yen and yuan
US dollar is falling everywhere.
Have you noticed the price of the Canadian dollar compared tothe US dollar?
2003 it was 1.5 canadian to 1 us 2008 it less than 1 canadian to 1 usThat could in parts be because of their oil.
Then again the us dollar is also falling compared to Euro, yen and yuan
True, but oil has not yet hit $5.00 per gallon, not even if you count by the Imperial gallon. It may well reach that level in the future.
I have heard about $5 per gallon in California.
The oil barrel is now over $100 The oil from the sand current average cost of production for tar sands of $28 per barrel
This is very very profitable already. Their real problem at the moment is getting enough people to work. The oil in the sands is a real goldmine
I have heard about $5 per gallon in California.
The oil barrel is now over $100 The oil from the sand current average cost of production for tar sands of $28 per barrel
This is very very profitable already. Their real problem at the moment is getting enough people to work. The oil in the sands is a real goldmine
.. Are you talking gasoine or oil. There are 42 US gallons of oil in a standard "barrel". Oil touched $110 per standard barrel this week. That is far from $5.00 US per US gallon.
Nontheless, the oil sands people stand to make a lot of money in the shorter term.
A lot of oil sands are in Venezuela.
Iran, the world's fourth-biggest oil producer, has already asked customers to pay for its oil in euros because of the current weakness of the dollar.
Although the dollar is the currency in which oil is usually traded, it has been falling in value against the euro.
Venezuela has said it will now ask for euros instead of dollars for its oil.
Iraq was going to ask for Euros instead of the dollar before the invasion.
Looks like the dollar is on the not wanted list.
Looks like the dollar is on the not wanted list.
That is very true. The dollar which has been the standard currency for oil sales and purchases for decades is now not in favor.
There is a lot of oil in tar sands and oil sands around the world. It is often not easy to produce nor it is desirable as the thin light crude varieties, but as world oil consumption increases and prices rise, it will be worth going after.
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