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Is British Columbia the New Bakken?; Will export LNG to Asia
Topic Started: Feb 22 2012, 09:02 AM (488 Views)
Pat
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North America is swimming in oil and natural gas.



Is British Columbia the New Bakken?
Will Export LNG to Asia

By Nick Hodge
Thursday, February 16th, 2012

We're learning more about the fossil fuel wealth under North American soil every day.

Over the past few months, we've covered various formations and how new technology is allowing access to previously unrecoverable oil and gas.

Barnett, Williston, Fayetteville, Utica, Niobrara, Eagle Ford, Tuscaloosa, Bakken...

The rush has created millionaires from Fort McMurray to Fort Worth.

I've heard of farmers on Maryland's Eastern Shore taking heavy equipment all the way to the Dakotas to profit from the boom.

For awhile now, North American oil has been all about Alberta and the Bakken.

Natural gas has been all about Haynesville and the Marcellus.

The amount of energy coming out of those locations is undeniable, the media attention and related stock appreciation are warranted.

And they're undoubtedly helping us lessen our dependence on foreign oil, albeit with much work left to do.

But in the northeast corner of British Columbia, near the border with Alberta, another North American energy story is taking shape. And just as with the others, the first in stand to make the most.

Here's the story as printed last week in the Lake Country Calendar, the pulse of Winfield, British Columbia:

Lake Country Calendar

Canada's National Energy Board has granted a license to BC LNG Export Cooperative to ship liquefied natural gas (LNG) from Kitimat to Asian markets.

The license will allow the shipment of 36 million tonnes of super-cooled natural gas over 20 years from a $450 million floating terminal off Kitimat, BC. That's the equivalent of 125 million cubic feet per day.
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Brewster
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And probably another 0.1C of warming.

Another three wind farms and two Solar generators not built.

Another potential environmental disaster awaiting at Kitimat.

A loss of many permanent jobs.

More BC forests damaged.

Not-So-Slow motion suicide.
Edited by Brewster, Feb 22 2012, 09:20 AM.
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Chris
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Couple that with Canada revs up for fight over second tar sands oil pipeline: "Canada's planned Northern Gateway pipeline would send tar sands oil to its West Coast for export to Asia."
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Pat
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Yep, Canada is moving forward with being a net exporter of CNG and from what I have read, here in the United States, we are not far behind. We have so much capacity that drilling has stopped in many areas for dry wells (those that just contain NG.) Drilling rigs are moving to the wet locations. Pass the cigars.

Goodbye OPEC.
Edited by Pat, Feb 22 2012, 09:37 AM.
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jackd
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In Quebec , we'll try and watch the petroleum parade go by.
Quote:
 
The View from the West.Quebec 'sitting' on huge gas reserves
Most people would be delighted to discover that they were sitting on top of natural gas reserves that could potentially supply their needs for the next century or so. No more worrying about complicated Middle East politics or whether oil supplies are past their peak.

Yet in the Canadian province of Quebec, news of abundant gas in the shale beneath the St. Lawrence River basin has not been met with unalloyed joy.

Although Nathalie Normandeau, the minister of natural resources, calls future self-sufficiency in natural gas a historic opportunity for the French-speaking province, a surprising number of people have stepped forward to say "no thanks" or "not yet." Officials from Quebec publicly recently chided their counterparts from Alberta over their failure to reduce carbon emissions from the tar sands in the western province. They also called on the federal government to speed up its lackadaisical efforts to bring in a national plan to reduce emissions.

That is partly because of Quebec's good fortune in generating so much hydroelectricity that it exports its surplus to Ontario and to northeastern United States. It has plans to seek additional customers in both countries. The James Bay Complex owned by Hydro-Quebec, a utility owned by the provincial government, generates eight times the power of the Hoover Dam. This abundance of cheap renewable electricity is the main reason why Quebeckers are "finicky" about shale gas. It has allowed them to be proudly green. Quebec's governments have spent decades telling Quebecois that they are greener than green. It seems many have believed them.

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Banandangees
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I'm thinking as Jackd. Maybe it's better (for the US) if we sit tight on this tar sands oil pipline. Maybe it is better for US environmental concerns to forego the tar sands oil pipline south. It would make a great terrorist target and much harder to clean up than refined oil. Our abundance of natural gas would probaboy be a little safer than the tar sands oil.
Edited by Banandangees, Feb 22 2012, 04:34 PM.
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Well I doubt the oil pipeline to Kitimat will ever get built, because i believe that after Nov, Keystone will. Under Obama or a Rep.. At least natural gas is relatively clean.
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Pat
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Dream on Telco. It's already in the works. Western seaports will be exporting CNG within a decade. The enviro wackos in the province will not be capable of holding down the marketplace.
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Mountainrivers
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Pat
Feb 23 2012, 12:45 AM
Dream on Telco. It's already in the works. Western seaports will be exporting CNG within a decade. The enviro wackos in the province will not be capable of holding down the marketplace.
I don't know much about the native tribes in Canada, but my understanding is that the proposed route to the Pacific goes right through their lands and they are the "environmental wackos" Pat refers to. They have stated their opposition to it. I guess we'll have to wait and see how much clout they have with the Canadian government.
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Chris
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telcoman
Feb 23 2012, 12:36 AM
Well I doubt the oil pipeline to Kitimat will ever get built, because i believe that after Nov, Keystone will. Under Obama or a Rep.. At least natural gas is relatively clean.
Ah, so you understand US politics pandering! No different than CA.
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