The Commons Blog: Emerging Energy Sources

Emerging Energy Sources

Posted by Jonathan H. Adler · 15 June 2005 · Energy

After years of speculation and minimal success, "tar sands" (aka "oil sands") are emerging as a viable source of petroleum, today's Washington Post reports.

Until a few years ago, such projects -- called "oil sands" or "tar sands" -- sputtered at the fringes of the oil industry. But since technological breakthroughs brought down costs and oil prices have soared, companies have been investing heavily here. Oil-sands production is now profitable when a barrel of oil sells in the low $20s, analysts said -- far below the recent $50 range.

Meanwhile the NYT reports on efforts to unleash global natural gas markets and obstacles to that effort.

TrackBack (36)

As coincidence would have it, we just had a vacation to the Canadian province of Alberta. They are quite excited about the economic boom, and the Province (which has no sales tax) even lowered its hotel tax!

We met one young man who just started a job in the industry. He said that Fort McMurray (in NE Alberta, near where the sands are presumably) is a good place to hear Newfoundland English.

You might want to keep track of this issue as well: In the northern part of Alberta is Wood Buffalo National Park, the summer home of the whooping crane. Let's see how these engangered birds do with all the extra activity relatively nearby, and if anyone says anything about it.

Ron

Posted by: Ron at June 20, 2005 08:26 AM

By Author:

By Category:

By Month: