Alberta Tar Sands
That huge, ingloriously deplorable natural resource in a world desperately hungry for energy resources is one immense headache. Identified as a resource, yet set aside for resource extraction until such time as the vastly costly enterprise would make financial sense, it now presents as one of the world's prime bitumen-extraction locations.
Energy-hungry itself - water-wasteful and environmentally destructive - yet it presents as a rough jewel awaiting polishing. To the dismay of environmentalists.
The new environmentally-conscious American administration views extraction from the tar sands with a good deal of distracted animosity. Distracted, because the United States remains highly dependent on fossil fuels, and because Canada is its largest source of these energy resources. Conflicted because the Obama administration desperately wants to fulfil its environmental obligations to the best of its feeble ability.
U.S. investment in opening up new extraction models have stalled, and investment withdrawn, not because of the distaste of the administration, but because of the rising costs associated with that extraction, now that world price of oil and gas has descended from its impossible high points, of late.
In steps another monumental energy-consumer to fill the gap. America's loss may be China's gain.
Cracking open the door of opportunity, PetroChina International Investment Co. has acted in the interests of China's economic future by offering to buy a 60% interest in two Athabasca Oil Sands Corp. projects. China's economic recovery from the global recession has been swift, outdistancing all other countries, with India close behind.
The slow-down in investments in these projects from abroad may most certainly tempt the federal government to give a green light to the $2-billion stake in the reserves. All the more so that the Government of Canada has seen its future, and is extending a real effort to improve its (trade) political relations with the world's most populous, economically expanding nation.
Grumbling distaste for human rights abuses aside. Trade, after all, uber alles. 'Tis the way of the world.
Energy-hungry itself - water-wasteful and environmentally destructive - yet it presents as a rough jewel awaiting polishing. To the dismay of environmentalists.
The new environmentally-conscious American administration views extraction from the tar sands with a good deal of distracted animosity. Distracted, because the United States remains highly dependent on fossil fuels, and because Canada is its largest source of these energy resources. Conflicted because the Obama administration desperately wants to fulfil its environmental obligations to the best of its feeble ability.
U.S. investment in opening up new extraction models have stalled, and investment withdrawn, not because of the distaste of the administration, but because of the rising costs associated with that extraction, now that world price of oil and gas has descended from its impossible high points, of late.
In steps another monumental energy-consumer to fill the gap. America's loss may be China's gain.
Cracking open the door of opportunity, PetroChina International Investment Co. has acted in the interests of China's economic future by offering to buy a 60% interest in two Athabasca Oil Sands Corp. projects. China's economic recovery from the global recession has been swift, outdistancing all other countries, with India close behind.
The slow-down in investments in these projects from abroad may most certainly tempt the federal government to give a green light to the $2-billion stake in the reserves. All the more so that the Government of Canada has seen its future, and is extending a real effort to improve its (trade) political relations with the world's most populous, economically expanding nation.
Grumbling distaste for human rights abuses aside. Trade, after all, uber alles. 'Tis the way of the world.
Labels: Canada, China, Economy, Environment
posted by Pieface | 6:32 PM
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