Wednesday, January 02, 2013

Province in Rotten shape - Conservative smiles.

Alberta’s Conservatives’ short sited, bordering ignorant administration is leaving Alberta somewhere between the outhouse and the woodshed holding a candle for light!  We are so totally screwed.

We have no money to fall back on; all royalty and profits from the petroleum industry has been shipped off to the oil companies; the heritage Trust fund has been plundered for over 70 billions of dollars belonging to you, your children and their children.  Never to be seen again!  We have the highest cost of living in North America.
Our conventional oil is beyond peak.  This province has absolutely nothing to show for it!  The production will be down to half within 5 years unless the industry can use carbon/water injection combined to recover a great deal more oil out of the formation.  This is old technology tried and true.  
All the carbon capture programs are directed at collecting carbon dioxide for this purpose an and this alone!  The only art is how to invent stories to get the taxpayer to give up their gold to pay for everything leaving oil to the discounted markets.  In reality, it is your savings that are going down the pipeline!  Down the tubes!  They say there is some high number of millions “set aside” for developing  a technology that is 50 years old!   Considering they have no reserves of any kind and are into milking pensions, and bilking the Heritage Fund setting anything aside is an outright lie.  Think here of the nonexistent sustainability fund. No such thing on the books until they tapped into pension funds.
I won’t even touch AIMCO here and the 7 billion absconded from municipal pensions.  It is peanuts when compared to the trillion missing from treasury because of their policy or outright collusion with the oil industry to rip the province off.
Our major market, the US has matured.  The market place has changed  and not very fast and the Conservatives in all their glory have ignored it until it is too late their energies being spent on how to get the taxpayers to pay for all the infrastructure required to meet new, emerging markets
And, they were not surprised by anything in the market place. Quite the contrary they planned to be exactly where we are now.  They are solidly connected to the US Republican Party and meet regularly  It appears they have agreed to milk Alberta dry on the cheapest oil in the world before they tap into their own reserves.  
In the first part of April in 2009 the Forbes Brother was a guest to an oil talk show.  Forbes didn't blink an eye and said “More than all the middle east put together”
The US Geological Service issued a report in April 2008.  It was a revision of a 1995 report on how much oil was in the Western 2/3 of North Dakota, Western South Dakota and extreme Eastern Montana.
The numbers are astounding. They concluded the Bakken is the largest domestic oil discovery since Prudhoe Bay and has the potential to eliminate all American dependence on foreign oil!
The EIA (US Energy Information Administration) puts their estimate at 503 billion barrels!  Even if just 10% of that oil is recoverable at 100.00 per barrel, that 10% is worth 5.3 trillion dollars to the US!  They also estimate because it is light, sweet crude it will cost Americans only 16 dollars per barrel to produce it.
“This sizable find is now the highest-producing onshore oil field found in the past 56 Years” reports the Pittsburgh Post Gazette.   It is known as the Willison Basin but more commonly referred to as the Bakken.
The Stansberry Report Online 4/20/2006
Hidden 1,000 feet beneath the surface of the rocky Mountains lies the largest untapped oil reserve in the world!  It is more than 2 trillion barrels. On August 8,2005 President Bush mandated its extraction.  In 3 ½ years of high oil prices none has been extracted.
The market for natural gas is also come and gone and you have nothing to show for it because you were stuck on Conservatives!
In 2008 Texas reported a new find; more than 75 Trillion Cubic Feet shallow, easy to produce.  There is less than 50 TCF in the Western Canadian Sedimentary basin.
In the high years, gas was a 15.00 a Gj. It is presently about 3.25 and I predict will be below 1.50 this summer.  Oil companies are saying they can make money if the prices are up to 3.40 (and they do not have to pay for any of the infrastructure to transport it)
Alberta, BC and Saskatchewan need  a pipeline to the west coast to meet Asian markets.  Without this access we will fail as provinces.  Whether it is oil or LNG or both, the taxpayers are going to be the ones who pay for the lines, not the oil industry.
The Conservatives are joined at the hip with the US Republicans  and oil and the Republicans are running the show in Canada even though they were rejected soundly by the American people.
Get rid of these guys  You simply cannot afford to vote for them any longer. 

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