Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: GUSTAVE JAEGER who wrote (23161)	5/26/2005 9:59:22 AM
From: philv	Respond to of 81234

Things aren't always what they seem. Oil mining of Alberta's tar sands is well established and growing, but it is terribly energy dependent, specifically natural gas. I have heard estimates that the true net energy (btu) production after all inputs is as low as 20%. About a year ago, the government of Alberta was in a legal tangle with gas producers, with the government wanting to shut in 500 gas wells so that the gas could be used for oil extraction, rather than being sold now. Here is a quote: "A potentially significant deposit of non-conventional oil is the Athabasca Tar Sands site in north-western Canada as well as the Venezuelan Orinoco deposit. It is estimated by oil companies that the Athabasca and Orinoco sites (both of similar size) have as much as two-thirds of total global oil deposits but they are not yet considered proven reserves of oil. Extracting a significant percentage of world oil production from tar sands may not be feasible. The extraction process takes a great deal of energy for heat and electrical power, presently coming from natural gas, itself in short supply. There are proposals to build a series of nuclear reactors to supply this energy." answers.com Actually, years ago, the Russians offered to explode nuclear devices below ground to "melt the oil", which then could be pumped out. This was not pursued. <g> The point is, unconventional oil, although available, is a poor subsitute for the good cheap stuff we now enjoy!