FirstQuaker -> RE: Perry Promises Increased Drilling and Decreased Regulation (10/17/2011 1:29:07 PM)
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ORIGINAL: tj444 lol And yet Exxon Mobil is going to be shipping oil via the pipeline from the Kearl project in Alberta to Texas in 2012... The statement about China wanting it came from Exxon Mobil regarding Kearl and the pipeline to Texas. Basically, get it done. I, however, personally dont care if it is or not, imo those jobs should stay in Alberta where they belong.. I somehow dont see oil getting cheaper, given that China's energy needs is increasing rapidly, they will be the 2nd biggest energy consumer (behind the US) very soon. China buys a lot of Canada's coal, I am sure oil wont be far behind (or why buy stakes in it?). They might be selling it to the roundeyes now, but oil isnt going to be getting any cheaper, imo. And they do tend to think longer term than the US does, imo. If ya'll have a hard on for them "stealing" American jobs,.. i wonder whats gonna happen when they decide to take more and more of that oil for themselves instead.. It will be interesting.. The pipeline to anywhere in North America from Alberta will be far cheaper then shipping it in the massive chain of tankers to China, or anywhere else in Asia, and will be for some period of time. Once you get a pipeline built, shipping oil with it is pretty inexpensive. And the intial cost of getting the tar oil processed into shippable form is far higher then pumping that light sweet crude out of the ground and onto a tanker, like the Arabian oil. The more fuel costs the more it cost to run a vessel. The supertankers are pretty efficient ships, but still, running 60 and 70 thousand horsepower engines wide open and around the clock is not cheap. But for the foreseeable future, Canada depends on the US to buy it from Alberta
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