Canada Oil Production To Surge 33%

[Economy 53,160]

http://www.bnn.ca/canadian-oil-production-projected-to-grow-33-by-2030-capp-says-1.777787

 

While we saw a crash in 2014 due to over-supply over the longer term we may get an oil shortage as early as 2019 as consumption rises over 1.5 million barrels a day yearly

 

USA will be the largest increase over next 5-10 years as the shale boom continues but then may peak as the reserves are not high enough to increase much more than a few years

 

OPEC is already producing at close to full capacity and theres Questions as to how much more Russia can produce daily with their current reserves to production ratio being very low

 

Canadas oil production (currently 4th highest in the world) is set to rise 33% by 2030. New technologies are also set to double the recoverable reserves to over 300 Billion Barrels the most in the world. Canada is in a position to be one of the few to rise supply a to a world in Oil Deficit

[Economy 53,160]

Its worth noting that despite predictions World Oil Consumption may peak in 10-15 years due to Electric Cars... By then many Countries will be in Oil decline as they can not replace aging fields

 

In addition non-transportation oil uses will still have the world consume dozens of millions of barrels of oil a day

[bumblebee 2,528]

Russian oil production is more  costly than in most of OPEC, they are running out of old reserves pretty quickly, and the new fields belong with the areas of a very hostile climate, where they would require foreign technologies - which is rather problematic under sanctions. 

Unless Russia starts investing, their position may weaken in the future. Canada's forecast is focused on recoverable reserves  which makes its claim stronger than the US, but how about the Saudi who have a lot easier production conditions?

[Economy 53,160]

28 minutes ago, bumblebee said:

Russian oil production is more  costly than in most of OPEC, they are running out of old reserves pretty quickly, and the new fields belong with the areas of a very hostile climate, where they would require foreign technologies - which is rather problematic under sanctions. 

Unless Russia starts investing, their position may weaken in the future. Canada's forecast is focused on recoverable reserves  which makes its claim stronger than the US, but how about the Saudi who have a lot easier production conditions?

The Saudis would also need major investment as so much production comes from the old/aging Gwar Field (largest in the world) and they will need new fields just to replace declining production there

 

Still if the reserves they report are accurate (debatable as OPEC has reasons to lie and inflate their numbers) they should be able to increase consumption with investment if they choose

 

Another Country with enough reserves for big increases is Venezuela but in their condition their production is actually falling  

 

The problem with the US is that shale is so short cycled. Fast to invest in new fracking sites so production can boom fast... But the current reserves will only last and support growth for so long

 

Many optimists assume technologies will unlock as many reserves in the future as have been the last few years which may or may not happen

 

In Canada the reserves are not only massive but new technologies are showing to work and when implemented the reserves should increase from the current 172 Billion Barrels to over 315 Billion Barrels

 

Theres also massive shale reserves found in North West Territories currently not officially im oil reserve numbers as they surveying is not complete

 

The nice thing about Canada's oil is that it is the longest cycle in the world...

 

It takes 5-10 years to set up a new oil sands project but nearly 50 years to depleate that field as the oil sands go deep...

 

It makes future production very predictable and consistant. Production does not change in short or medium term from price swings!

[Birdie Wyatt 0]

Thanks for the informative update on the Canada oil surge. In order to make up your mind about what is happening in the country, you have to be aware of the changes happening in the country in every field, especially the economic state. I think that everyone would like to know about the company based in Canada that will help figure out what to do with your finances and how to handle the money in this difficult economic situation. Thanks for the news on the matter and for the chance to comment.

[Economy 53,160]

5 hours ago, Birdie Wyatt said:

Thanks for the informative update on the Canada oil surge. In order to make up your mind about what is happening in the country, you have to be aware of the changes happening in the country in every field, especially the economic state. I think that everyone would like to know about the company based in Canada that will help figure out what to do with your finances and how to handle the money in this difficult economic situation. Thanks for the news on the matter and for the chance to comment.

Did u join this site just to promote the company?