These two articles come out of the Globe and Mail. The second brings one up to speed. The first is much more important. What it means is that sometime in the next two years, Petrobank is going to be able to add billions of barrels of producible reserves to its inventory. It also means that
will likely see its reserves climb over one trillion barrels of producible oil, a sum surpassing all other global oil resources combined, sometime in the next decade. Canada
We have always known this was possible. Now these reserves will be formally recognized allowing easy extension of finance.
Most important is that this tech comes in at half the cap costs and half the operating costs of SAGD. More important than even that is that no outside fuel of any significance is needed for
I have been tracking THAI for three years. In this item they finally come clean regarding real time production. It is too small but it is clearly working. Upgrading the equipment will change those numbers. Again this is to be expected. WE have hard numbers. Ten percent of oil in place is burned to release the oil.
Question: Will doubling the air flow double the area of the burn front? More precisely is air flow volume related linearly to oil production?
Anyway children, this is shaping up very nicely to place
as the swing oil producer for the next century or as long as we insist on using oil. We can go to ten million barrels per day with this technology and keep it there for three centuries in case anyone runs short. Canada
THAI is opening up global oil reserves that are totally mind blowing and could allow a high hydrocarbon lifestyle for centuries although it would be a foolish proposition to sustain and simply unnecessary. Regardless, the easiest fruit is in
and already prepped ready to go. Canada
THAI passes milestone
for the oil sands Battle
Most importantly we need to be ahead of the curve in developing the technology and we must remain not just the leaders but the owners.
Case in point the idea that smelting metal from sulphide ore needed to use required huge amount of coal and would release vast amounts of SO2 ( acid rain ) was excepted as the price we had to pay.
I work for Vale Inco ( don't get me started about the strike ). We started to developed oxygen enrichment in the 40s to save money in smelting costs. This is something INCO invested a lot of time and effort in for decades. At the same time in the
In 1990 Prince Charles tapped the first flash furnace and reverb technology and massive SO2 releases became a thing of the past.
Fast forward 20 years the technology still works and continues to be developed but its no longer Canadian. We sold out for the quick dollar and this technology and everything developed from it belongs to
If we let our oil sands industry go that way we will have missed an opportunity to not only make Canada a cleaner place but we will loose the technical know how to develop it and it the jobs that go with it.
Is the solution Nuclear?
Natural gas displaced by nuclear steam could be used in a massive program to convert Canadian vehicles to natural gas. See
Call it the nuclear Picken's plan.
Only a replacement of fossil fuel production with nuclear can save us from a as little as ten years civilization threatening peak oil and climate disaster. Pollution from toxic radioactive waste spewing coal power plants which kills and sickens hundreds of thousands of Canadians would be gone.
A $150 billion investment in mass produced nukes, would be paid for by and would end
The US needs 2500 new reactors but is crippled by inefficient private power companies, a biased Nuclear Rejection Commission and corrupt and litigious political and legal systems, quadrupling nuclear costs and time frames.
By rimming the border with AECL reactors,
Even you deniers should be happy as the conversion saves a ton of money, creates a bunch of jobs, maybe gives Harpo that majority government you've been dreaming of and as an aside saves hundreds of thousands of lives from coal and tar sands plant pollution.
AGW junk science discussions aside, there is no way that Canada can afford to ignore this industry when it equals 91 years worth of Canada's current GDP.
Anyone who argues against the value of this asset to
Perspective: the Canadian automotive industry is only responsible for 12% of manufacturing GDP. Think about it.
Now tell me we don't need the Oilsands.
What needs to be done to reconcile the two is to set environmental standards and enforce them.
Economics will take care of the rest.
This may slow the development of this resource, but I don't think that's a bad thing either from the economic or environmental point of view.