Adding US oil sands to the board

U.S. President Barack Obama announced high-profilely during his campaign trip in Oklahoma State that he will expedite the approval of the construction of the “Keystone Super Large Oil Pipeline” line of the Canadian oil pipeline company in the southern half of the United States in order to quickly produce crude oil produced in the State of Oklahoma. Conveyed to Texas refinery in the Gulf of Mexico.

Prior to this, Obama had twice postponed the approval of the "Keystone, the United States oversized oil pipeline" project and was criticized. Some analysts believe that Obama is now adjusting his strategy and is trying to shut down the Republican Party's attack with the construction of this project. .

However, Canada’s ruling opposition to Obama’s announcement does not buy it. The Canadian Federation echoed the Alberta government, which is rich in oil sands, and continued to work to diversify its energy exports. After the visit to China, Canadian Prime Minister Harper has once again gone out for a visit to Thailand, Japan and South Korea, and participated in the nuclear summit. However, exploring the crude oil market in these three countries is still his main agenda.

The U.S.-Canada appeal for different oil sands is Canada's largest material asset. It generates nearly 100 billion U.S. dollars annually for the country (currently 1 Canadian dollar = =1 US dollar). Harper declared a year ago that Canada will become a global energy superpower. However, this goal is not easy to achieve.

The first challenge is to increase the energy export market too much. According to statistics, 97% of Canada's crude oil exports are exported to the United States, and there are almost no other markets. The Trans-Canada Oil Pipeline Company plans to invest more than US$7 billion to upgrade a 2,700-kilometer pipeline to transport oil sand crude oil produced in northern Alberta to the Gulf of Mexico refinery in Texas. However, under the strong opposition of the American environmental protection organization, President Obama, who faced a general election, announced at the end of last year that he would postpone project approval until 2013 after the election. This gave the Harper government, who was eager to create jobs by expanding crude oil exports to maintain economic growth, a head start in cold water.

Canada has realized that "hanging only in the United States on this tree" is not in the national interest. Kevin Lynch, deputy president of Bank of Montreal, clearly stated that although Canada and the United States have many common interests, they have different interests in terms of energy. "The interest of Canada is the highest price of energy, while the U.S. interest is the lowest price; the U.S. wants energy supply security, and Canada needs to ensure that demand safety."

How dirty are oil sands?

In fact, the negative impact of the oil sands exploitation on the environment has been exaggerated by environmental organizations. Some analysis pointed out that the impact of oil sands on the environment is still limited or even avoidable, and as the technology advances, these unfavorable factors are gradually being overcome.

Taking water consumption as an example, it has been greatly reduced compared with before. Every barrel of crude oil extracted now requires only 2-4 barrels of water, and the recycled water has now reached 80%-95%. Last year, the total amount of fresh water used for oil sands mining was less than 110 million cubic meters, which accounted for only 7% of the total water consumption in the province, and had no impact on people's normal production and living.

According to a survey commissioned by the United States from Stanford University in the United States, the production of oil from oil sands per barrel is 22% higher than conventional crude oil. However, according to the statistics of the EPA, the total annual emission of greenhouse gases released from oil sands extraction is 45 million tons, accounting for 6.5% of the total emissions, accounting for about 0.1% of the total global emissions, and not much for the environment. influences.

China’s opposition to the need for careful environmental protection has not shaken the Canadian government’s determination to promote diversification of oil sands and exports, nor has it affected major oil companies to invest. The United States’s EXXONMOBIL, the British BP, the French TOTAL SA, and Japan, Singapore, etc. have invested in oil sand projects in Canada. China is a rising star. In the past two years, China has invested about 14 billion U.S. dollars in energy.

However, China's investment in oil sands mining is still in its infancy. It needs to be cautious and gradually accumulate experience. The best way is to first establish a joint venture.

The reasons include: First, oil and sand mining requires giant corrosion-resistant equipment, and the initial investment is huge, and the time required for return on investment is very long. Second, it requires highly specialized technology that is different from conventional mining. Third, it imposes extremely high environmental protection standards. Mineral processing, post-development replanting and other requirements are very strict, not easy clearance; Fourth, due to the remote oil sand production areas, away from population centers, while the rapid expansion of oil sand mining, resulting in a shortage of local labor. According to the Canadian Industry and Commerce Commission’s report, the gap for the petroleum industry in the next 10 years will reach 130,000, while the short-term working visas issued by Canadian industries across the country will only be 30,000.