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U.S. boom in oil production spells peril for Canadian crude

Globe and Mail -- A torrent of oil pumped from new wells across the U.S. is setting in motion a decade of dramatic change that promises to wean the country off OPEC, and threatens the growth of energy imports from Canada.

The U.S. is now staring at an energy future awash with its own crude, with far-reaching consequences for Canada’s oil sands, the U.S. economy and global geopolitics. This massive shift has been sparked by changing political sentiment and technological advances that have allowed crude to be tapped in new places – from North Dakota to Oklahoma, Colorado, Michigan, and even Florida.

The United States, according to new data released Monday by Bentek, a U.S. energy analysis firm, will see its oil production rise nearly five million barrels a day, or 74 per cent, in the next decade.

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Submitted Sep 11, 2012 By: BurntOrange

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flagtown25 Champion Author New Jersey Posts:1,177 Points:490,605 Joined:Oct 2011	Message Posted: Sep 26, 2012 9:26:33 AM Ignore flagtown25 Report Abuse Maybe not
honda0105 Champion Author Tallahassee Posts:18,599 Points:1,607,570 Joined:Nov 2008	Message Posted: Sep 14, 2012 12:23:20 AM Ignore honda0105 Report Abuse time will tell...
StanleyCup All-Star Author Chicago Posts:683 Points:524,535 Joined:Mar 2011	Message Posted: Sep 12, 2012 11:59:22 AM Ignore StanleyCup Report Abuse There will always be a demand for oil, locally, and abroad.
BoerneWatch Champion Author San Antonio Posts:15,531 Points:2,451,990 Joined:Oct 2005	Message Posted: Sep 12, 2012 7:26:45 AM Ignore BoerneWatch Report Abuse Somehow I believe Canada will do just fine and we will purchase every ounce of crude that they can get to our refineries.
Fitwit Champion Author Stockton Posts:6,387 Points:1,353,780 Joined:May 2009	Message Posted: Sep 12, 2012 2:00:50 AM Ignore Fitwit Report Abuse Canada will be okay. Their leader has his heart in the right place.
kgbellman Champion Author Ann Arbor Posts:2,703 Points:729,890 Joined:Mar 2011	Message Posted: Sep 12, 2012 12:27:15 AM Ignore kgbellman Report Abuse I _might_ feel bad foor them
dieselme2011 Champion Author Vancouver Posts:2,583 Points:600,790 Joined:Mar 2011	Message Posted: Sep 12, 2012 12:09:15 AM Ignore dieselme2011 Report Abuse ok
judgemobile Champion Author Ohio Posts:7,560 Points:2,443,185 Joined:Nov 2005	Message Posted: Sep 12, 2012 12:07:44 AM Ignore judgemobile Report Abuse we need to keep the Canadians as friends always.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Sep 12, 2012 12:06:33 AM Ignore frostyWV Report Abuse time will tell.
jrsva Champion Author Virginia Posts:9,840 Points:1,610,300 Joined:Jan 2006	Message Posted: Sep 12, 2012 12:05:00 AM Ignore jrsva Report Abuse Canada would be smart to leave their tar sands in the ground. The material is strip mined at considerable monetary cost and extreme environmental cost, resulting in a product with a low net energy value that is difficult to transport and difficult to refine into useful products. Why buy into this trash? If left alone for now, perhaps at some future time new technology could allow it to be mined and processed responsibly.
DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,624,400 Joined:Jun 2008	Message Posted: Sep 12, 2012 12:04:51 AM Ignore DrCashFlow Report Abuse Won't happen that quickly
kjme4ever Sophomore Author Lexington Posts:110 Points:51,975 Joined:Jun 2011	Message Posted: Sep 12, 2012 12:04:16 AM Ignore kjme4ever Report Abuse doesn't really matter as the oil will be shipped out to countries who will pay top dollar for it, while our refineries won't give us gas till the price is stupid crazy high so they can max out their profits. They even have been shutting down refineries so they can cut back supply so prices will go sky high.
carinthuist Champion Author San Francisco Posts:2,233 Points:327,310 Joined:Mar 2012	Message Posted: Sep 12, 2012 12:03:31 AM Ignore carinthuist Report Abuse great if true
beale055 Champion Author Philadelphia Posts:1,292 Points:423,975 Joined:Jan 2012	Message Posted: Sep 12, 2012 12:01:37 AM Ignore beale055 Report Abuse Hogwash
joel27nc Champion Author Raleigh Posts:10,527 Points:1,856,420 Joined:Mar 2008	Message Posted: Sep 12, 2012 12:01:25 AM Ignore joel27nc Report Abuse No, not really.
Aviator_Rob Champion Author New York Posts:3,795 Points:411,515 Joined:Mar 2012	Message Posted: Sep 12, 2012 12:01:22 AM Ignore Aviator_Rob Report Abuse There is no moratorium on drilling, @Gas4Gore. Just on drilling without any safety measures. If you can't afford to be safe, you have no business being in the oil business.
Aviator_Rob Champion Author New York Posts:3,795 Points:411,515 Joined:Mar 2012	Message Posted: Sep 11, 2012 11:59:28 PM Ignore Aviator_Rob Report Abuse Talk to the Republicans, @clermont40miles. They're the ones that want smaller government. For them that means no government sponsored consumer watchdogs to keep an eye on big business and keep them from sticking it to the American public. Deregulate everything and unshackle the free market. How's that been working out for everyone?
Gas4Gore Champion Author Detroit Posts:2,406 Points:420,950 Joined:Jan 2010	Message Posted: Sep 11, 2012 11:56:53 PM Ignore Gas4Gore Report Abuse To think that all this happens despite President Barack Hussein Obama's moratorium on drilling and the EPA's restrictions.
skybiker Champion Author South Carolina Posts:7,282 Points:1,557,465 Joined:Jul 2008	Message Posted: Sep 11, 2012 11:56:49 PM Ignore skybiker Report Abuse They will sell to China...
Aviator_Rob Champion Author New York Posts:3,795 Points:411,515 Joined:Mar 2012	Message Posted: Sep 11, 2012 11:55:19 PM Ignore Aviator_Rob Report Abuse @Barfood made an important point. Say what you will about high gas prices, they are effective in changing America's driving habits. If prices somehow go back down, I'm afraid people will forget about $4.00/gal gas and go back to oversized SUVs, just to drive to the grocery store. For gas prices to STAY low, we as Americans need to stop wasting so much gas.
Aviator_Rob Champion Author New York Posts:3,795 Points:411,515 Joined:Mar 2012	Message Posted: Sep 11, 2012 11:51:06 PM Ignore Aviator_Rob Report Abuse The problem with the Canadian tar sands is, among other things, an economic one. It's cheaper to drill for shale oil in the Dakotas and Montana than to try to process Canadian tar sands into something that vaguely resembles crude oil. The process is dirty, expensive, and not totally effective. The end product oozes like molassas and needs to be heated to even flow through a pipeline. Plus, this sticky concoction wears out the inside of the pipeline much faster than standard crude because it's more abrasive.
NoGas714 All-Star Author Indiana Posts:733 Points:748,510 Joined:May 2005	Message Posted: Sep 11, 2012 11:49:42 PM Ignore NoGas714 Report Abuse Yet we're still hanging out at the $4/gallon mark. Hmmm.
Winston76 All-Star Author Michigan Posts:963 Points:254,585 Joined:Jul 2008	Message Posted: Sep 11, 2012 11:47:27 PM Ignore Winston76 Report Abuse OK mstearno, enough of the name calling. Time to grow up. I don't agree with everything Obama has done or is doing but I'm sick of reading these STUPID names like Nobama or Obummer. I even more sick of people blaming him for things that aren't his fault just to have a reason to hate him. Get a life!!!!!!!!
after10 Veteran Author Hamilton Posts:360 Points:47,850 Joined:Jul 2012	Message Posted: Sep 11, 2012 11:47:06 PM Ignore after10 Report Abuse It dosent seem to matter about Canadas perils.Its still the Canadians that are paying for it at the pumps!
Aviator_Rob Champion Author New York Posts:3,795 Points:411,515 Joined:Mar 2012	Message Posted: Sep 11, 2012 11:47:06 PM Ignore Aviator_Rob Report Abuse See? We don't need Canada's tar sands. They can keep it. And for those complaining about high gas prices, I'm afraid you can't have your domestically produced oil and burn it, too. Hydrofracking of shale oil deposits and deepwater oil production in the Gulf of Mexico is EXPENSIVE. For years, importing oil was easier and cheaper than exploring and drilling new oil and gas deposits in this country. It still is cheaper, IF the world is politically and economically stable but we're seeing less and less of those conditions every year. I'm afraid we're not going back to $2.00/gal gas.
DustyHorse Champion Author Virginia Posts:6,072 Points:1,388,920 Joined:Oct 2008	Message Posted: Sep 11, 2012 11:43:53 PM Ignore DustyHorse Report Abuse That is if Obama does not implement cap and trade when he is reelected.
leemun Champion Author Utah Posts:5,520 Points:1,037,340 Joined:May 2010	Message Posted: Sep 11, 2012 11:43:45 PM Ignore leemun Report Abuse Nah, we can use all of it and give the Ay-rabs the figner.
Winston76 All-Star Author Michigan Posts:963 Points:254,585 Joined:Jul 2008	Message Posted: Sep 11, 2012 11:43:19 PM Ignore Winston76 Report Abuse I don't see why we would not continue to buy oil from Canada, unless they no longer want to sell it to us. I would hope that with our oil and Canada's we could stop buying oil from Iran, Venezuela, and other countries that have these diluted beliefs that they can use their oil to bring us to our knees.
fenster66 Champion Author Pittsburgh Posts:3,335 Points:671,165 Joined:May 2011	Message Posted: Sep 11, 2012 11:42:29 PM Ignore fenster66 Report Abuse most of it will be exported, and prices here will not change...
defiancegasman Champion Author Ohio Posts:7,080 Points:1,323,260 Joined:May 2006	Message Posted: Sep 11, 2012 11:40:52 PM Ignore defiancegasman Report Abuse If the USA has so much OIL, WHY is gas still at $4 a gallon????!!!!???
bonzoonfmb Champion Author Florida Posts:1,772 Points:641,885 Joined:Feb 2010	Message Posted: Sep 11, 2012 11:40:42 PM Ignore bonzoonfmb Report Abuse The U.S. retailers will probably end up buying Canadian crude and the U.S. producers will sell overseas to the highest bidder.
Winston76 All-Star Author Michigan Posts:963 Points:254,585 Joined:Jul 2008	Message Posted: Sep 11, 2012 11:37:14 PM Ignore Winston76 Report Abuse Ok obimerrill, if you say so. Where do you get such ridiculous ideas?
obimerrill Champion Author Cincinnati Posts:1,430 Points:287,765 Joined:Jul 2012	Message Posted: Sep 11, 2012 11:35:31 PM Ignore obimerrill Report Abuse Unless Obsma wins reelection...then he will put a stop to that so his OPEC buddies can profit from us and we don't hurt their economies!
Barfood Champion Author St. Louis Posts:3,296 Points:1,015,080 Joined:Jun 2009	Message Posted: Sep 11, 2012 11:34:12 PM Ignore Barfood Report Abuse If that's true then WE will just start building bigger vehicles again, so that we continually need MORE!
papa56NC All-Star Author North Carolina Posts:725 Points:142,760 Joined:Apr 2012	Message Posted: Sep 11, 2012 11:33:44 PM Ignore papa56NC Report Abuse not really
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,859,780 Joined:Jun 2006	Message Posted: Sep 11, 2012 11:27:36 PM Ignore PizzaMon Report Abuse Not necessarily so.
farn1958 All-Star Author Twin Cities Posts:886 Points:183,385 Joined:Feb 2011	Message Posted: Sep 11, 2012 11:27:10 PM Ignore farn1958 Report Abuse Ready for another game of political ping pong?
WIPACKERFAN Champion Author Chicago Posts:8,794 Points:1,841,500 Joined:Aug 2005	Message Posted: Sep 11, 2012 11:24:03 PM Ignore WIPACKERFAN Report Abuse Canada will find someone to buy their oil.
goldrose1 Champion Author Cleveland Posts:10,926 Points:1,922,555 Joined:Feb 2005	Message Posted: Sep 11, 2012 11:23:43 PM Ignore goldrose1 Report Abuse Use Canada's oil first.
tes283 All-Star Author Tampa Posts:865 Points:368,850 Joined:Dec 2011	Message Posted: Sep 11, 2012 11:23:12 PM Ignore tes283 Report Abuse humpff
CatskillHiker Champion Author New York Posts:22,264 Points:2,387,945 Joined:Sep 2006	Message Posted: Sep 11, 2012 11:22:33 PM Ignore CatskillHiker Report Abuse China will be more than happy to buy up whatever Canadian oil is not purchased by the United States. So Canada should be not be affected much by any of this.
NoStrings Champion Author Ventura Posts:1,387 Points:271,280 Joined:Aug 2011	Message Posted: Sep 11, 2012 11:20:43 PM Ignore NoStrings Report Abuse What
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: Sep 11, 2012 11:19:48 PM Ignore Jeeputtputt Report Abuse I agree w/ Wanda 127. She's cute.
DriverofRed Champion Author Calgary Posts:2,163 Points:409,935 Joined:Dec 2011	Message Posted: Sep 11, 2012 11:19:43 PM Ignore DriverofRed Report Abuse k
Wanda127 Champion Author Florida Posts:2,484 Points:912,080 Joined:May 2010	Message Posted: Sep 11, 2012 11:16:29 PM Ignore Wanda127 Report Abuse I agree DEG.Obama doesn't want us to be independent from OPEC for our oil.
jrschl Champion Author Louisville Posts:2,952 Points:678,140 Joined:Jun 2011	Message Posted: Sep 11, 2012 11:16:13 PM Ignore jrschl Report Abuse Not if these prices keep up like this.
wayoung56 Champion Author Alabama Posts:2,790 Points:816,385 Joined:Oct 2006	Message Posted: Sep 11, 2012 11:15:22 PM Ignore wayoung56 Report Abuse Wonder what NoBama is going to do about this???
achas Veteran Author Charlotte Posts:270 Points:43,545 Joined:Aug 2012	Message Posted: Sep 11, 2012 11:15:12 PM Ignore achas Report Abuse TIME TO BUY SOME OIL OPTIONS
DEG Champion Author Las Vegas Posts:17,610 Points:3,492,755 Joined:Jul 2003	Message Posted: Sep 11, 2012 11:13:44 PM Ignore DEG Report Abuse If Obama is reelected, I am sure that his administration will find some way to shut down the production.
wulf2000 Champion Author Miami Posts:3,017 Points:1,386,430 Joined:May 2005	Message Posted: Sep 11, 2012 11:13:35 PM Ignore wulf2000 Report Abuse This article is baloney. The powers that be in the US want the Canadian crude.