BNN has an interesting story:
"CIBC World Markets says advancements in technology mean 77 billion barrels of previously discovered oil in Western Canada can now be "unlocked" and brought to surface. BNN speaks with Murray Nunns, President and Chief Operating Officer of Penn West Energy Trust, about his company's efforts in the area of "tight oil."
So long and short:
15percent extracted now... horizontal drilling and multi frac... can now go to 30percent of oil reserves extraction with c02 recovery.
$100/b at 77billion barrels conv. light oil is 7.7 trillions of dollars in western ca. before the oil sands production!
After our global warming (lack thereof) problems this summer... we need to get as much c02 in atmosphere as possible to make our plants more efficient to feed the 9b people soon to need food!
"CIBC World Markets says advancements in technology mean 77 billion barrels of previously discovered oil in Western Canada can now be "unlocked" and brought to surface. BNN speaks with Murray Nunns, President and Chief Operating Officer of Penn West Energy Trust, about his company's efforts in the area of "tight oil."
So long and short:
15percent extracted now... horizontal drilling and multi frac... can now go to 30percent of oil reserves extraction with c02 recovery.
$100/b at 77billion barrels conv. light oil is 7.7 trillions of dollars in western ca. before the oil sands production!
After our global warming (lack thereof) problems this summer... we need to get as much c02 in atmosphere as possible to make our plants more efficient to feed the 9b people soon to need food!
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