Think Oil is Going Away? The 10 Biggest Oil & Gas Discovery of 2018

Below are the biggest conventional oil discoveries of 2018 grouped by the country they were found in.  As you can see, these top 10 countries alone found more than 6 Billion of Barrels of Oil Equivalent. Those that want to “keep it in the ground” are just not realizing that oil is a global commodity.  As large as Canada and the US are at producing it, if we don’t others will.  That means blocking pipeline like the Northern Gateway, Energy…

Alberta Is Cutting As Much Oil Denmark Produces

As you have no doubt heard, Alberta Premier Rachel Notley has forced oil production cuts starting at 350,000 barrels per day in January 2019 and hopes to reduce those cuts to 95,000 barrels per day by the end of 2019.  We wanted to know how much oil is that so we worked did the calculations. If a country produced as much as Alberta is cutting they would be in the top 40 oil producing nations. We estimate that Alberta will…

How Much Alberta Oil Will Not Be Produced in 2019 as a Result of the Over Supply and Mandatory Curtailment

Most pundits say that by the end of 2019 the market would clear itself but the Alberta Government wants to clear the over supply and reduce the current massive oil inventories from about 35M barrels to somewhere near it norm of 20M barrels. So in an ideal world, both the 190,000 barrels per day that is being added to current inventory AND 15M extra barrels of oil in storage would all be gone by December 2019.  If we drop 1.25M…

Top 10 Things You Need to Know About the Alberta Oil Production Cuts

There is a fair amount of misinformation floating around the oil sector about the oil production cuts that Premier Rachel Notley announced on Dec 2nd 2018.  Here are the facts in a simple FAQ format: 1 – Where did the number 325,000 barrels per day come from? Alberta estimates that there is about 35 million barrels in storage in December 2018 and that we are adding 190,000 barrels to that every day so they calculated that cutting 325,000 barrels per…

VIDEO: Why We Need Nuclear Energy Now – Nuclear Energy Positives and Negatives Rationally Explained

If you are worried about the environment you may be surprised to learn that virtually all rational energy environmentalists are pro-nuclear.  This is a quite a surprise to many.  The reasons are that while Nuclear Reactors have their problems… well, lets stop there.  It is much more accurate to say Nuclear Reactors HAD their problems in the past those serious issues are: Outdated.  Nearly all of the nuclear reactors in operation today were constructed between 1970 and 1985 and are…

VIDEO: Canadian Oil Profits & Losses Explained 2017 2018 – Not A Love Story

This short video shows that the price of oil you see on TV is far from what Canadian Oil Producers receive. As a basis for comparison we used Western Canadian Select (aka W.C.S.) which is a blend of several oils that is about 20% lower quality than the North American Standard oil West Texas Intermediate (aka. W.T.I.).  If you want more information on what the different types of oil are and what they are worth, see our article: Oil isn’t Oil:…

Oil isn’t Oil: What Are The Different Types of Crude Oil?

When we watch the TV or read the newspaper we often see something like “OIL IS UP TODAY” but we really don’t know what that means because there are so many different types of crude oil, each with its own price. Below we briefly explore the 6 oil products that are common to Canadians and Americans and at the bottom of this article we show 60 crude oil types and their prices from around the globe.   You can see that…

How Much Oil Can A Rail Car Transport?

The old DOT-111 rail cars carry about 700 barrels of oil but because of safety concerns they are being phased out for newer, safer DOT-117 oil rail cars which can carry about 675 barrels of oil. We will use 700 barrels as a round number to form a basis of comparison: 1 rail car tanker = 3.25 truck tankers = 700 barrels = 111,000 liters = 29,500 US gallons = 117,500 US quarts As you can see below there are…

Are We Hitting Peak Oil… Again?

In the late 1990’s the term PEAK OIL was coined as a short form for the time when we reach the maximum amount of oil we can produce in a year.  It was often misconstrued as the end of oil but was simply when production levels start to decline. By the mid 2000’s Peak Oil had become a hot topic around the globe with both oil producers and environmentalists both promoting the idea.  Oil producers wanted peak oil because it…

How Much Oil Does Canada Import & Other Oil Statistics

Canada imports about 1 BILLION barrels of oil per year, nearly all into Quebec and Ontario in-spite of the fact that it exports 3.1 Billion barrels of oil per year. These are the specific numbers taken directly from the Canadian Federal Government from 2016: Canadian production: 3.9 MMb/d Imports: 0.9 MMb/d Exports: 3.1 MMb/d Below are some other statistics you might also find interesting: Canada Has the Third Largest Proven Reserves on the Globe: World proved reserves – 1,646 billion barrels…