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GasBuddy News Article

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East Coast looks to lure oil money as Alberta discounts bite

Financial Post -- The deteriorating price environment for Alberta’s oil sands stands to spur development on Canada’s East Coast, where new seismic work has uncovered three “very large” but highly prospective oil fields in the Labrador Sea.

The subsea structures, revealed after a two-year seismic program mapped an area equivalent in size to the Gulf of Mexico, are being shopped around to international oil companies as a promising new deepwater exploration frontier by Nalcor Energy, Newfoundland and Labrador’s provincially owned energy company.

Newfoundland and Labrador produced more than 267,000 barrels per day of undersea crude in 2011, all of it linked to world oil prices. That alone could lure investment away from landlocked Alberta, where oil sands producers face the prospect of dwindling returns u


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Submitted Feb 17, 2013 By: Nicoalbum
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: East Coast looks to lure oil money as Alberta discounts bite Back to Topics
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tomok
Champion Author Portland

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Points:2,900,335
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Message Posted: Mar 5, 2013 1:33:44 AM

East Coast looks to lure oil money as Alberta discounts bite? More and larger offshore oil reserves discovered and Alberta cannot get enough of their oil to market. Time for a different marketing stratagy and maximize their oil sands profits while they can.
There is oil all over this world, find it, get it out of the ground and to market.
More Refineries are Not the answer, Stop exporting fuel is!
Take care of the domestic fuel market first and above all else!
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 22, 2013 4:54:50 AM

John, it has, but Pig Oil and the lust for money has overridden a lot of concerns for those who have something to say.
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HawaiianGuy
Champion Author Idaho

Posts:11,946
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Message Posted: Feb 18, 2013 1:52:58 PM

JohnLM, I'm going to hazard a guess that, unlike the bulk of the U.S., global warming will actually help Canada (for obvious reasons) as well as extending their growing seasons and making formerly non-productive areas suitable for grain. I think I read once where the Peace River Country surrounding Grande Prairie, Alberta, is the northernmost grain growing area in the world. Global warming can only bring more areas into cultivation.
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JohnLM
Champion Author Orlando

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Message Posted: Feb 18, 2013 5:16:54 AM

As leftist as the Canadians are, it's amazing that they're so supportive of big oil. I guess the whole global warming idea hasn't gained any traction up there either.
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VikingWoman
Champion Author Washington

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Message Posted: Feb 18, 2013 12:54:21 AM

Should be good news for Canadians, eh? They pay a big price per litre.
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Zonk
Champion Author Michigan

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Message Posted: Feb 18, 2013 12:43:17 AM

Canada, make your money now. Don't wait on the idiot in Washington to make a move. Remember, obama is not our friend.
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TravelinJones
Sophomore Author Stockton

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Message Posted: Feb 18, 2013 12:40:39 AM

Realistically, we could build another 1970 pipeline no problem.
Maybe they have better materials and safer methods nowadays?,
possible.

But someone tell me how you can realistically protect/defend a
above ground pipeline for 1000+ miles of heartland, from some
terrorist attack, that would be a environmental and financial
disaster if said pipeline WENT BOOM!

if they can build it strong and underground like gas lines, fine.

I am not aware or have heard of any real details about this pipelines
construction materials or building technology, but to take a hit from
lets say for example," a terrorist driving a big rig full nitrate",
would wipe out any profit u make for a few years. great 10$ a gallon.
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TravelinJones
Sophomore Author Stockton

Posts:190
Points:86,780
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Message Posted: Feb 18, 2013 12:27:50 AM

we the people. complain complain.

coulda woulda shoulda bought a electric car,

but no, i wanna play gas wars till i grow old.

i think my next car will be a balloon. 4 $ a gallon. haa
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kcboy
Champion Author Utah

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Message Posted: Feb 18, 2013 12:25:29 AM

Interesting
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2005Retired
Champion Author Arkansas

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Message Posted: Feb 18, 2013 12:17:47 AM

back to Canada again
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Feb 18, 2013 12:16:55 AM

Good for Canada! At least they are allowed to explore and prosper thier nation. We here in America of course cannot. Thanks to the EPA and the current regime. You get what you vote for!! Enjoy!
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HailstormCA
Champion Author San Diego

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Message Posted: Feb 18, 2013 12:14:51 AM

wowser
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hockey_24
Champion Author KW

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Message Posted: Feb 18, 2013 12:09:36 AM

more discounts
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JSX515
Champion Author St. Louis

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Message Posted: Feb 18, 2013 12:09:33 AM

And we reelected the clown?
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rd2000
Champion Author Florida

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Message Posted: Feb 18, 2013 12:09:24 AM

go for it
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roadrunnerMO
Champion Author Kansas

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Message Posted: Feb 18, 2013 12:08:01 AM

Go for it Canada. Obama is not going to allow pipeline across the United States anytime soon.
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pinofl
Veteran Author Miami

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Message Posted: Feb 18, 2013 12:07:29 AM

ok
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jcallaw
Champion Author Houston

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Message Posted: Feb 18, 2013 12:06:47 AM

ok
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unclenorman
Champion Author Tampa

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Message Posted: Feb 18, 2013 12:03:27 AM

"supply and demand" no longer mean anything!!!!!!Remove oil/gas from the commodity markets!!!!!!!!!!!!!!!!!!!
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TBONE3
Champion Author Pennsylvania

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Message Posted: Feb 18, 2013 12:03:11 AM

Let's see how many YEARS it takes to agree to get every country involved to agree with each other JUST to PROCEED!
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Tigrelily
All-Star Author Illinois

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Message Posted: Feb 18, 2013 12:02:59 AM

ok
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veemotors
Champion Author Alberta

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Message Posted: Feb 18, 2013 12:00:40 AM

ok
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Thomtec
Champion Author Nashville

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Message Posted: Feb 18, 2013 12:00:31 AM

Go for or Canada
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5Golfer8
Champion Author Tucson

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Message Posted: Feb 17, 2013 11:59:53 PM

Up the production and drop the prices.
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animal63
All-Star Author Indiana

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Message Posted: Feb 17, 2013 11:59:44 PM

I agree with 10K the price of gas is terribly expensive for a such a great supply of oil.
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amgine27
Champion Author New York

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Message Posted: Feb 17, 2013 11:59:29 PM

yup
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rosyLI
Champion Author Long Island

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Message Posted: Feb 17, 2013 11:57:59 PM

Sounds like a lot of oil.
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amgine27
Champion Author New York

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Message Posted: Feb 17, 2013 11:57:44 PM

ok
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GLCSHADOW
Champion Author Oregon

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Message Posted: Feb 17, 2013 11:51:27 PM

Wow, even more oil out there and finding more all the time.
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humblepie
Champion Author Toledo

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Message Posted: Feb 17, 2013 11:49:11 PM

great news for newfies
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BobD2009
Champion Author Long Island

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Message Posted: Feb 17, 2013 11:44:32 PM

How about luring the Alberta discounts.
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10k
Champion Author North Carolina

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Message Posted: Feb 17, 2013 11:42:29 PM

instead of luring oil money, how bout if we lure much lower pump prices ??..had one gas store jump from 3.46 to 3.72 today-totally uncalled for..
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Matt G
Champion Author Boston

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Message Posted: Feb 17, 2013 11:42:21 PM

Good
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CivicMA
Champion Author Boston

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Message Posted: Feb 17, 2013 11:41:39 PM

Good as long as safety is maintained.
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kgbellman
Champion Author Ann Arbor

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Message Posted: Feb 17, 2013 11:38:12 PM

As long as done safely
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KrsnaDragon
Champion Author Montreal

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Message Posted: Feb 17, 2013 11:33:16 PM

Interesting news.
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jcdakota
Champion Author Baltimore

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Message Posted: Feb 17, 2013 11:32:49 PM

Old news!
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bell013
All-Star Author Atlanta

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Message Posted: Feb 17, 2013 11:30:31 PM

I agree, We just don't need to be Fracking around.
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tedjm1
Champion Author New York

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Message Posted: Feb 17, 2013 11:28:21 PM

Question is; How do we rectify this & get ourselves fluid again?
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bell05
Champion Author Atlanta

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Message Posted: Feb 17, 2013 11:27:32 PM

We just don't need to be Fracking around.
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stratlinetime
Champion Author Kalamazoo

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Message Posted: Feb 17, 2013 11:26:50 PM

Oil is everywhere but prices keep going up?
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wayoung56
Champion Author Alabama

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Message Posted: Feb 17, 2013 11:25:48 PM

Hmmm...
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mfgendron
Champion Author New York

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Message Posted: Feb 17, 2013 11:24:52 PM

I boycott all canadian goods.
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Cableman66
Champion Author North Carolina

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Message Posted: Feb 17, 2013 11:23:14 PM

Old news.
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boatfloyd
Champion Author Jacksonville

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Message Posted: Feb 17, 2013 11:19:14 PM

Oil is everywhere.
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76chevy
Champion Author Toledo

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Message Posted: Feb 17, 2013 11:19:10 PM

Oil is put on market for highest bidder no matter where it is produced. That is what keeps people like Chavez from actually enforcing his empty threats to not sell to U.S.



[Edited by: 76chevy at 2/18/2013 12:21:14 AM EST]
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crreed1
Champion Author West Virginia

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Message Posted: Feb 17, 2013 11:18:15 PM

old news
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GRUMPY55
Champion Author California

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Message Posted: Feb 17, 2013 11:16:32 PM

ok
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heartbroken2010
Champion Author Ottawa

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Message Posted: Feb 17, 2013 11:15:54 PM

Great stuff for them.
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rahcat
Champion Author Grand Rapids

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Message Posted: Feb 17, 2013 11:15:00 PM

GO Maritime Provinces!!!
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