Environmental Engineering Reference
In-Depth Information
California. U.S. oil sands would likely require significant R&D and capital investment over
many years to be commercially viable. An issue for Congress might be the level of R&D
investment in oil sands over the long-term.
As oil sands production in Canada is predicted to increase to 2.8 million barrels per day
by 2015, environmental issues are a cause for concern. Air quality, land use, and water
availability are all impacted. Socio-economic issues such as housing, skilled labor, traffic, and
aboriginal concerns may also become a constraint on growth. Additionally, a royalty regime
favorable to the industry has recently been modified to increase revenue to the Alberta
government. However, despite these issues and potential constraints, investment in Canadian
oil sands will likely continue to be an energy supply strategy for the major oil companies.
Acronyms and Abbreviations
AEUB
Alberta Energy and Utility Board
API
American Petroleum Institute
ARC
Alberta Research Council
ARCO
Atlantic Richfield Company
CCA
Capital Cost Allowance
CONRAD
Canadian Oil Sands Network for Research and Development
COS
Canadian Oil Sands
CSS
Cyclic Steam Stimulator
EIA
Energy Information Administration
GCOS
Great Canadian Oil Sands Company
GHG
greenhouse gases
IEA
International Energy Agency
mbd
million barrels per day
NEB
National Energy Board
OPEC
Organization of Petroleum Exporting Countries
PADD
Petroleum Administration for Defense District
R&D
research and development
ROI
return on investment
SAGD
steam-assisted gravity drainage
SCO
synthetic crude oil
SIRCA
Scientific and Industrial Research Council of Alberta
USGS
United States Geological Survey
VAPEX
Vapor Extraction Process
Introduction
Current world oil reserves are estimated at 1.292 trillion barrels. The Middle East
accounts for 58% of world oil reserves, and the Organization of Petroleum Exporting
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