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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Cogito Ergo Sum who wrote (140921)	11/7/2010 5:16:17 AM
From: elmatador	Read Replies (4) of 206336

there is only 8 years of natural gas left in Canada and it gets pretty cold here in winter. That comment caught my eye. Canadian natural gas is important in a number of ways: It provides 17% of total US NG consumption and today contributes roughly 11% [see calc at bottom] of the energy content in a barrel of tar sands oil (which will only increase with in-situ recovery growth). By no means (conventional or unconventional), can Canada be considered to have lots of natural gas, yet, we produce more than our fair share. Accurately predicting Canadian NG supply is, of course, important for all the usual North American energy security reasons and, among others: It would be nice to know if Canadians will have NG for things other than tar sands and exports to the US. Half of all Canadian homes are heated primarily by natural gas and about 6% of Canada's electricity sector relies on natural gas, a lot of which is used as peak electricity generation. It’s well known that Canadian conventional gas peaked around 2001, but according to a continuing trends prediction case from the National Energy Board, it doesn’t appear as if unconventional gas will be playing a big part, at least compared against 2001 peak production levels. Below I summarize some predictions for future production of Canadian natural gas and try to estimate how much of Canada's natural gas will be left over for regular Canadian citizens. canada.theoildrum.com Oilsands now represent 61 per cent of Canada's total known oil reserves and that figure is expected to continue increasing in the future as a whole array of multi-billion dollar mining projects are built. energybulletin.net

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