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$12-15 per gallon coming soon to a pump near you
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[QUOTE]Originally posted by NaturalResources: [QB] [QUOTE]Originally posted by The Bigfoot: [qb] This is not going to happen gentlemen. It is bull. The oil sands in Alberta have more oil than Saudi Arabia. It costs more to get...but you know what...that "costs more" figure is around $60 a barrel as opposed to $20 a barrel for on-land drilling operations. Currently oil is trading at $130+. This means that at current prices oil recovered from the most expensive process known to date would still turn a more that 100% profit. We have time and prices will stabilize as these operations ramp up but we do still need to start getting serious about alternative 'earth friendly' energy sources. [/qb][/QUOTE]Good post Bigfoot I agree. There isn't much talk yet about oil sands, which might make for some good stock plays if you know of any companies that own oil sands properties... Assuming we don't move towards alternative energy, (which we should IMO), doesn't buying oil from Canada make much more sense that buying it from the alternatives? Saudi Arabia, Venezuela, Iran, Russia, Nigeria... They are all what I would consider "unstable jurisdictions". For something as important as our oil supply, surely we should place more care in where we attain it from. Because of greed and poor decisions, hard working people worldwide are being fleeced while despots like Chavez, Abdullah and Ahmadinejad get rich. Personally, I think the development of the Canadian oil sands in inevitable, but the question is, will prices remain high enough for long enough for that time to be now, instead of 10-15 years down the line. I also think that even though the price of oil may come down to where the Canadian oil-sands are not economical anymore [b]it should be developed anyway, simply because it would be a STABLE oil supply.[/b] Look at how much we have spent trying to create stability in the middle-east to protect our precious oil supply there.... [/QB][/QUOTE]
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