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The term "Bitumen Bubble" was put in place by Redford to keep our minds off the fact that all our resources; natural gas, Conventional Oil, Pentane, were all sold at deep discounts. Alberta took no royalty on Pentane at all, stripping it from the producers and passing it on at an extremely low cost.
Over the past few weeks you have probably read articles saying the Brent oil is on its way up while a few articles are saying there would be an advantage if Alberta quit discounting its oil. Couple this with the fact that our Conventional oil according to CAPP is past Peak. It is expected to produce half of what it is today at the end of another 5 years.
They have given your resource away and there is nothing in the bank to show for it.
So, keep the public thinking Bitumen; don't mention Conventional oil.
This brings us to the Bakken oil formation; shale strata. This is not conventional oil! Yet, it is talked of as if it is by saying "Oil production is up etc"
This is done to keep you eye off the ball; the conventional oil is tapped out.
Lastly but not least important is the oil discounts (Brent prices) which are an invention of the Alberta Conservatives and the oil parents nothing to do with market pressure. These discounts were in place when oil was at its peak and the US could not get enough of it!
Watch what you read on energy in Alberta. Most of it is Conservative snow jobs.
Over the past few weeks you have probably read articles saying the Brent oil is on its way up while a few articles are saying there would be an advantage if Alberta quit discounting its oil. Couple this with the fact that our Conventional oil according to CAPP is past Peak. It is expected to produce half of what it is today at the end of another 5 years.
They have given your resource away and there is nothing in the bank to show for it.
So, keep the public thinking Bitumen; don't mention Conventional oil.
This brings us to the Bakken oil formation; shale strata. This is not conventional oil! Yet, it is talked of as if it is by saying "Oil production is up etc"
This is done to keep you eye off the ball; the conventional oil is tapped out.
Lastly but not least important is the oil discounts (Brent prices) which are an invention of the Alberta Conservatives and the oil parents nothing to do with market pressure. These discounts were in place when oil was at its peak and the US could not get enough of it!
Watch what you read on energy in Alberta. Most of it is Conservative snow jobs.
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