Fracking Shale Boom Spreading Beyond US to Canada!

[Economy 52,861]

http://business.financialpost.com/news/energy/canada-energy-deals-rebound-as-shale-plays-trump-oil-sands?__lsa=17a7-5668

 

it was known that Canada has large amounts of shale oil as well, some of the biggest reserves in the world (although not as much as the United States)

 

When the fracking shale boom began in the US 5-6 years Canadian Companies payed no attention. They already had lots invested in the oil sands and at the time shale oil was more expensive to extract than oil sands. So why bother to invest money in shale if tar sands were cheaper and on top of that exist in much larger reserves?

 

This has changed in recent months as the new fracking technologies are making shale extracting arguably more economical than oil sands and Canadian companies now have interest in exploiting their own reserves

 

It is not known how much Shale Oil is in Canada as most fields discovered do not have official estimates in place due to former lack of interest. But companies are now considering putting large amounts of money into developing its shale reserves as shale production costs have dropped

 

Although shale reserves are unlikely to be bigger than the oil sands, the potential amount is likely to be enough to create a mini-fracking boom as some fields appear quite large

[ctherainbow 3,162]

Oh geez.  Now Canadians also get to have the struggle of driving on roads that are destroyed by the endless stream of drilling trucks.  But dat economic boom, tho.   

[LeoFameMonster 1,592]

Damn we need as much help as we can get. Our economy sucks right now. All the companies are either going bankrupt or closing down. SO this comes as good news. Silly Steven Harper and his polices aren't working for Sh*t.

[Gagaloo911 12,959]

Yasss destroy the earth decimate ha some more  

[OBEY 57,109]

Yasss destroy the earth decimate ha some more  

​this so much  

[Economy 52,861]

Damn we need as much help as we can get. Our economy sucks right now. All the companies are either going bankrupt or closing down. SO this comes as good news. Silly Steven Harper and his polices aren't working for Sh*t.

Well it will take time to set up these things etc. we probably wot see major drilling before 2017 earliest and thats assuming oil prices rebound

 

Also stop blaming Harper. Most the the reasons Canadas economy has been stalling as of late are not his fault, its been due to factors beyond his control

[Economy 52,861]

Oh geez.  Now Canadians also get to have the struggle of driving on roads that are destroyed by the endless stream of drilling trucks.  But dat economic boom, tho.   

Lol oil sands didnt destroy our roads. Dont see why this would be any different

[ctherainbow 3,162]

Lol oil sands didnt destroy our roads. Dont see why this would be any different

​Well, first of all, being quoted by the flawless Economy, lemme take a moment.   

And that's good; maybe you guys have better road maintenance.  I live right in the middle of the heaviest natural gas drilling in the Northeast US, and the truck traffic absolutely wrecked our roads; between the trucks that bring the drilling rigs in and the trucks that constantly ferry the fracking fluid in, our roads got pulverized.  Hopefully that doesn't happen to ya'll.

[LeoFameMonster 1,592]

Well it will take time to set up these things etc. we probably wot see major drilling before 2017 earliest and thats assuming oil prices rebound

 

Also stop blaming Harper. Most the the reasons Canadas economy has been stalling as of late are not his fault, its been due to factors beyond his control

​It is his foreign polices that put us in this position and you are saying its not his fault and beyond his control yet he has a majority government and can do "whatever" he wants.

And instead of alienating the majority of Canadians he only wants to give aid and tax breaks to couples with children under 18!! how does that help the majority of people. Canada has a surplus of money yet Harper is using to propel his campaign for reelection. He really doesn't care and has made a mess of the economy. I don't need to blame Harper the thousands upon thousands of soon to be unemployed people can blame him.

[Economy 52,861]

​Well, first of all, being quoted by the flawless Economy, lemme take a moment.   

And that's good; maybe you guys have better road maintenance.  I live right in the middle of the heaviest natural gas drilling in the Northeast US, and the truck traffic absolutely wrecked our roads; between the trucks that bring the drilling rigs in and the trucks that constantly ferry the fracking fluid in, our roads got pulverized.  Hopefully that doesn't happen to ya'll.

Oh u mean by being worn out???

 

well our most populated regions dont really have a lot of natural resources

 

we have tones of oil, natural gas, coal, copper, potash, gold, silver, uranium and nickel... But all of them are in unpopulated regions

 

As much as our economy is dependsnt on the extraction of natural resources, here in Canada hardly anyone really actually witnesses unless they are seeing it on TV

 

and the oil sands use huge trucks that roam around in that area and dump the sand into the large machines that seperate the oil from the sand from which it either goes to a pipeline down to refinaries or by train (since pipeline capacity isnt currently enough for all our oil production)

 

So hardly any is by truck... However one of the shale formations like the baken (yes it crosses into our border too) is close to Calgary (our 4th largest city). So if they start drilling i dunno if it will cause disturbance there or not  

 

All i know is we dont even know how much shale we have exactly. We have so much in oil sands and it used to be cheaper than shale so no company bothered to spend money to survey these formations to come up with an estimate. But surely soon they will

 

We already have the worlds 3rd largest proven recoverable reserves after Saudi Arabia and Venezuela. Would be cool to be #1  i doubt that will happen tho cuz theres a big gap between Canada and Venezuela and the shale reserves for sure wont be enough to bump us up that high  

[Economy 52,861]

​It is his foreign polices that put us in this position and you are saying its not his fault and beyond his control yet he has a majority government and can do "whatever" he wants.

And instead of alienating the majority of Canadians he only wants to give aid and tax breaks to couples with children under 18!! how does that help the majority of people. Canada has a surplus of money yet Harper is using to propel his campaign for reelection. He really doesn't care and has made a mess of the economy. I don't need to blame Harper the thousands upon thousands of soon to be unemployed people can blame him.

First of all his income splitting for families with children isnt as bad as they are making it out to be. Our current tax code isnt fair...

 

if a couple A makes $100,000 with 1 spouse making $80,000 and  the other $20,000 but then couple B also makes $100,000 but both couples earn $50,000 each... Couple A will pay MORE taxes than couple B even though combined they make the same income and it isnt fair

 

one of the things Harper mentioned was that this tax break would make the tax system more fair. Ppl complain that some couples wont benefit from it because they already make simmilar incomes.... But if 2 spouses make simmilar income u already pay less taxes than another couple earning the same amount but 1 spouse earning more because the one earning more is taxed so heavily  

 

i support this tax cut. It doesnt benefit everyone its true, but it helps make the tax system more fair. Couples where 1 makes a lot more money than the other get taxed a disporportionate amount and the income splitting adresses this. And he chose to do it for couples with children only which helps families sonce raising children is expensive!

 

Canadas economic weakness can be attributed to the backfiring of the strength we had 5 years ago... Our banking system didnt collapse like other Countries so we were a safe-heaven and our currency surged too much in value too quickly and killed much of our manufacturing that will take years to recover now!!!!

 

Also, because credit didnt freeze here and banks kept lending, u could argue low interest rates were more harmful here in inflating a housing bubble and eccessive consumer debt than in other Nations thats starting to take a toll on the economy. But that too isnt Harpers fault. The Central Bank is in charge of currency and interest rates not the Federal Government  

 

Ppl dont know what they are talking about. Most challanges we currently face wed still be facing regardless of who was in charge. At least his low corporate taxes are attracting a lot of corporate office jobs in financial hubs such as Toronto, Calgary and Vancouver  

[LeoFameMonster 1,592]

Whose reading that long ass post = No body

I'm just going to vote for Justin and be done with Harper that bigot, s-xiest moron.

 

[Economy 52,861]

Whose reading that long ass post = No body

I'm just going to vote for Justin and be done with Harper that bigot, s-xiest moron.

 

I dont get why some ppl hate him so much

 

i guess when ur in charge for almost 10 years and ppl pay attention only to flaws they become convinced the opposition is so much better and forget no party is gonna be perfect

 

Harper did a lot for Canada especially the economy with all the challanges we got like our biggest trading partner collpasing in 2008, and then putting up with an overvalued currency until 2012 that totally destroyed much of our exporter manufacturers

 

still, we managed to get through it better than Europe thanks to a competent Government with policies that help economic growth

 

too bad most Canadians cant see that. Thigs arent perfect and even tho its for reasons beyond anyones control, they just have to out all the blame on him  

[Luc 4,776]

In my country they're very worried about it. With the TTIP, they see fracking oil import as ond of the worst things it will cause, together with chlorine chickens, megastalls, and ofc ISDS.

[Woolfsmck 2,763]

Oil from fracking is the fracking same as oil from whatever. 

What fracking does is use a lot of water an can cause underground pollution in drinking water supplies where its used to extract oil...

There is some speculation that its causing fault lines to move since a lot of oil volume is removed from undergound caverns... i.e. earthquakes.  but that hasn't been proven yet.