Environment, Energy and Economies - A Canadian Primer: ENVIRONMENT ENERGY AND ECONOMIES IN CANADA - Ray Hamm
A few companies account for more than half of Canada’s crude oil production: Suncor, Canadian Natural Resources, Imperial Oil, and Cenovus. (Husky and Cenovus have recently combined. Hong Kong billionaire, Li Ka-shing will hold approx 27% of the new Cenovus.) The oil industry in Canada has taken a hit. Larger external factors are more significant than pipeline delays and environmental regulations. (For example: international oil prices collapsed.) If Canada would reduce production of petroleum, one of the first options should be to shut down the oil sands in Alberta. Why start with the oil sands? why not share cutbacks across the country? The oil sands produce 12% of Canadian Green House gases. Even with newer technology the GHG production of the oil sands is increasing every year due to increasing petroleum production. It costs more energy to produce a barrel of oil from the oil sands than from other sources. Oil sands technology has gotten more efficient but it is s...