Pipelines?

[Hamloc]

Forage, since I am only smart enough to quote Harper's talking points here is a question. The Canadian government, the U.S. senate and the US congress have all approved Keystone what or who is stopping it from going ahead?

[bucket]

My guess would be Warren buffet until he has the right company bought.

[TOM4CWB]

Bill Gates also has big RailRoad assets in the Gates Foundation... which Warren own in Part as well. Warren owns BNSF outright... and the Gates foundation is one of the biggest holders of CN shares.

[wmoebis]

I don't know when the last refinery was built in Alta, but I doubt if anyone could build a much needed new one, for less than any other one was built in history. Nothing goes down in costs.

[bucket]

Flour input costs go down regularly.

[TOM4CWB]

Here is the list:

Alberta[edit]
Strathcona Refinery, Edmonton (Imperial Oil), 187,000 bbl/d (29,700 m3/d)

Scotford Refinery, Scotford (Shell Canada), 100,000 bbl/d (16,000 m3/d)

Edmonton (Suncor Energy), 135,000 bbl/d (21,500 m3/d). Formerly Petro-Canada (before Aug 2009)

North West Redwater Partnership Bitumen Refinery, Alberta Industrial Heartland (45 km NE of Edmonton), (North West Upgrading/Canadian Natural Upgrading). Phase 1: 50,000 bitumen bbl/d (7,900 bitumen m3/d)

Bitumen Upgraders (turn bitumen into synthetic crude, which then must be further refined

Scotford Upgrader, Scotford (AOSP - Shell Canada 60%, Chevron Corporation 20%, Marathon Oil 20%),
250,000 bbl/d (40,000 m3/d) (located next to Shell Refinery)
Raw bitumen:
Horizon Oil Sands, Fort McMurray (Canadian Natural Resources Ltd.), 110,000 bbl/d (17,000 m3/d) raw bitumen

Long Lake, Fort McMurray (OPTI Canada Inc. 35% and Nexen Inc. 65%), 70,000 bbl/d (11,000 m3/d) raw bitumen

Syncrude, Fort McMurray (Canadian Oil Sands Trust, Imperial Oil, Suncor, Nexen, Conoco Phillips, Mocal Energy and Murphy Oil), 350,000 bbl/d (56,000 m3/d) raw bitumen

Suncor, Fort McMurray (Suncor), 350,000 bbl/d (56,000 m3/d) raw bitumen

Production
ï‚· In 2014, Alberta produced about 2.3 million barrels per day (bbl/d) of crude bitumen with surface mining accounting for 45% and in-situ for 55% of the production.
Upgrading
ï‚· There are five operating upgraders in Alberta with the capacity to handle approximately 1.3 million bbl/d of bitumen.
*ï‚· Most upgraders produce synthetic crude oil, but some also produce products such as diesel.
 Upgraders (and refineries) also produce off-gases, gaseous mixtures rich in alkanes and alkenes, which are potential feedstock for Alberta’s petrochemical industry."
Refining
ï‚· There are four operating refineries in Alberta with a combined crude processing capacity of over 458,200 bbl/d.
Alberta has 283,400 bbl/d in new projects which are either under construction or approved for development.
http://www.energy.gov.ab.ca/Oil/pdfs/FSRefiningUpgrading.pdf

Our farm has watched many of the new supply pipe lines be installed in the past 10 years... as the refineries have been expanded.



[wilagro]

For those who want to know:

In economics and finance, arbitrage is the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices.

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[TOM4CWB]

Willy, AS I meant lack of price convergence... such as we have in heavy oil in western Canada.. sells for much less than world value as it cannot reach the global market place because of lack of shipping capacity.

WICKI:
"Price convergence"
Arbitrage has the effect of causing prices in different markets to converge. As a result of arbitrage, the currency exchange rates, the price of commodities, and the price of securities in different markets tend to converge. The speed[2] at which they do so is a measure of market efficiency."