Refining Community Logo

RE: Oil Sands Set to Become Top US Crude Import Source

Home Forums Coking News: DCU, Upgrader 3.Upgrader (registered users only) Oil Sands Set to Become Top US Crude Import Source RE: Oil Sands Set to Become Top US Crude Import Source

#5614

Anonymous

Oilsands could supply one-third of U.S. oil within 20 years: report
Work must continue to reduce emissions
By Shaun Polczer, CANWEST NEWS SERVICE May 20, 201

Despite environmental and economic challenges, Canada’s oilsands could account for more than one-third of U.S. oil supply within two decades, says a new report from U.S.-based Cambridge Energy Research Associates.

Depending on the rate of growth, oilsands crude could eventually supply 20 to 36 per cent to the world’s largest consumer by 2030, the report states.

Although U.S. oil demand peaked in 2005, it will remain the world’s largest energy market over the next two decades, the report notes, allowing oilsands to assume a relatively larger portion of the country’s energy mix and offsetting reduced supplies from such traditional suppliers as Venezuela, Mexico and Saudi Arabia.

But Democratic Senator John Kerry and Independent Senator Joseph Lieberman could change that scenario with a climate change bill aimed at reducing U.S. carbon dioxide emissions.

Although there are no specific provisions in a climate bill introduced last week aimed directly at oilsands imports, Danielle Droitsch, the Pembina Institute’s director of U.S. policy based in Washington, said Canada runs the risk of retaliation against high-carbon oilsands if it fails to make significant headway in reducing its own emissions. Droitsch said there’s also a danger if the oilsands are seen to be given special treatment or a “pass” under any Canadian emissions reduction strategy.

“There’s direct and indirect implications for Canada,” she said in an interview. “There’s nothing in it (the Kerry-Lieberman bill) that specifically targets oilsands, but we need to address that issue. It’s the elephant in the room. To me, the greater risk is to ignore it.”

Greg Stringham, vice-president of markets and oilsands for the Canadian Association of Petroleum Producers, said Environment Canada stats show producers have reduced emissions intensity per barrel by 39 per cent since 1990, but acknowledged more work will have to be done to improve environmental performance.

“It’s very early in the U.S. process and unclear how and when this bill will move through their system. However, it is clear that Canadian crude is a very important and growing part of U.S. energy supply. Our focus will remain on continuing to improve environmental performance, including greenhouse gas emissions,” he said. “It will be important to find alignment as both countries advance policies in this area.”

Copyright (c) The Ottawa Citizen

Read more: http://www.ottawacitizen.com/business/Oilsands+could+supply+third+within+years+report/3049889/story.html#ixzz0oZzz2OgT

Despite environmental and economic challenges, Canada’s oilsands could account for more than one-third of U.S. oil supply within two decades, says a new report from U.S.-based Cambridge Energy Research Associates.

Depending on the rate of growth, oilsands crude could eventually supply 20 to 36 per cent to the world’s largest consumer by 2030, the report states.

Although U.S. oil demand peaked in 2005, it will remain the world’s largest energy market over the next two decades, the report notes, allowing oilsands to assume a relatively larger portion of the country’s energy mix and offsetting reduced supplies from such traditional suppliers as Venezuela, Mexico and Saudi Arabia.

But Democratic Senator John Kerry and Independent Senator Joseph Lieberman could change that scenario with a climate change bill aimed at reducing U.S. carbon dioxide emissions.

Although there are no specific provisions in a climate bill introduced last week aimed directly at oilsands imports, Danielle Droitsch, the Pembina Institute’s director of U.S. policy based in Washington, said Canada runs the risk of retaliation against high-carbon oilsands if it fails to make significant headway in reducing its own emissions. Droitsch said there’s also a danger if the oilsands are seen to be given special treatment or a “pass” under any Canadian emissions reduction strategy.

“There’s direct and indirect implications for Canada,” she said in an interview. “There’s nothing in it (the Kerry-Lieberman bill) that specifically targets oilsands, but we need to address that issue. It’s the elephant in the room. To me, the greater risk is to ignore it.”

Greg Stringham, vice-president of markets and oilsands for the Canadian Association of Petroleum Producers, said Environment Canada stats show producers have reduced emissions intensity per barrel by 39 per cent since 1990, but acknowledged more work will have to be done to improve environmental performance.

“It’s very early in the U.S. process and unclear how and when this bill will move through their system. However, it is clear that Canadian crude is a very important and growing part of U.S. energy supply. Our focus will remain on continuing to improve environmental performance, including greenhouse gas emissions,” he said. “It will be important to find alignment as both countries advance policies in this area.”

Copyright (c) The Ottawa Citizen

Read more: http://www.ottawacitizen.com/business/Oilsands+could+supply+third+within+years+report/3049889/story.html#ixzz0oa0A3bIT

Paul Orlowski
Refining and Processing Community: Coking.com, CatCracking.com, SulfurUnit.com
360.966.7251

Refining Community