Wednesday, November 21, 2007

Alberta Oil Sands important details

Oil sands deposits contain approximately 1.7 trillion barrels of bitumen.

Approximately 10 % or 174 billion barrels are proven reserves that can be recovered using current technology.

Current economic limit for oil sand surface mining is approximately 80 m. which makes up 20 % of the proven reserves.

Current oil sand production is approximately 1 million barrels per day, 1/2 is from surface mining.

1 million barrels per day at 100.00 per bbl us is 100 million dollars per day US.

1% start up rate returns 1 million dollars per day into royalty funds.
25% agreed production returns 25 million dollars per day in royalties.

19% Stelmach adjusted rate brings in 19 million dollars per day royalties.

Stelmach has moved 6 million dollars per day from Alberta Taxpayers into the hands of the Oil Companies while he is telling us he has found the “middle road” turning even more revenue into oil company’s profits.

For this kind of change, is it any wonder the Conservatives won't go to the polls until after the Canadian dollar hits 85 cents, where it belongs?

John Clark
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