Economy 52,864 Posted May 29, 2015 Author Share Posted May 29, 2015 Also, a lot of the infrastructure and equipment is in place to resume drilling in places they haven't started yet. Oil companies are slowing the new well startups and cutting back on hiring. If the need to add more wells happens, the cost of starting them is less. lucky swans. My Countries "recoverable reserves" are the 3rd highest in the world... And thats not counting shale, because we know we have a lot of that too but because our comapnies didnt pay attention to it at first, theres not enough data yet to knwo just how much reserves we have of them or how much is recoverable In theory if we added the shale, and the new technologies being developed to double recovery rates in the oil sands come out, Canada could potentially be #1 in proven reserves one day... Sadly tho, it doesnt matter how much oil we have, its hard to get a real boom out of it when ur stuck with the most expensive forms of oil to extract. We got 170 Billion barrels of recoverable reserves in oil sands (potentially 315 billion in a few years with new technologies). That oil on average requires $70/barrel or more to be profitable depending on the company and geological region... Then theres the massive discovered shale reserves in Northern Canada oil companies said isnt even worth investing money studying further cause its existance in the middle of nowhere makes oil production from there chronically unprofitable the cheap liquid oil we have almost none of it whats so ever Friggin USA has 1/8th of our recoverable reserves and they can produce so mnuch more of it economically Link to post Share on other sites More sharing options...
Echo 327 Posted May 29, 2015 Share Posted May 29, 2015 Fracking is going to destroy their land. Link to post Share on other sites More sharing options...
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