US urged massive hike in oilsands production -
By CP
TORONTO -- Canadian executives were urged to massively step up oilsands production to five million barrels of oil per day in a relatively short period of time by their counterparts in the U.S., according to documents obtained by the CBC.
Executives from U.S. oil multinationals and Canadian oilsands producers met for two days in Houston, Texas, in the days following the election of Conservative Prime Minister Stephen Harper's government last year, the broadcaster reported yesterday.
They recommended a five-fold increase in oilsands production fairly quickly, according to minutes of the meeting.
Oilsands production output was 1.1 million barrels per day in 2005, according to the National Energy Board. It is currently projected to provide between three million and 3.5 million barrels per day by 2015.
Canada exports much of its oil to the U.S. However, increasing production to five million barrels per day would be enough to satisfy a quarter of U.S. consumption and almost half its total imports.
However, such a massive production increase would require new refineries and pipelines to transport the crude from the Alberta oilsands as far as California and Texas, according to the document.
Two major energy companies that ship bitumen to the U.S. have recently announced plans for increasing the flow.
Escalation Against Iran: GOLD Higher -
http://www.informationliberation.com/?id=19543
http://www.investorshub.com/boards/board.asp?board_id=6668
By CP
TORONTO -- Canadian executives were urged to massively step up oilsands production to five million barrels of oil per day in a relatively short period of time by their counterparts in the U.S., according to documents obtained by the CBC.
Executives from U.S. oil multinationals and Canadian oilsands producers met for two days in Houston, Texas, in the days following the election of Conservative Prime Minister Stephen Harper's government last year, the broadcaster reported yesterday.
They recommended a five-fold increase in oilsands production fairly quickly, according to minutes of the meeting.
Oilsands production output was 1.1 million barrels per day in 2005, according to the National Energy Board. It is currently projected to provide between three million and 3.5 million barrels per day by 2015.
Canada exports much of its oil to the U.S. However, increasing production to five million barrels per day would be enough to satisfy a quarter of U.S. consumption and almost half its total imports.
However, such a massive production increase would require new refineries and pipelines to transport the crude from the Alberta oilsands as far as California and Texas, according to the document.
Two major energy companies that ship bitumen to the U.S. have recently announced plans for increasing the flow.
Escalation Against Iran: GOLD Higher -
http://www.informationliberation.com/?id=19543
http://www.investorshub.com/boards/board.asp?board_id=6668
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