| To continue from where we left off in
| |
| | or about 1,018 thousands of barrels per
|
| part 1:With a viable world market within
| |
| | day. This value is expected to increase
|
| striking distance, this article will
| |
| | to approximately 2.7million barrels per
|
| argue that the only method for inducing a
| |
| | day in the year 2012. Saudi Arabia
|
| change in OPEC behaviour is to 'steal'
| |
| | accounted for 16.8% of total crude
|
| import supply from the United States. It
| |
| | imports and Venezuela was responsible for
|
| is unlikely that oilsands products will
| |
| | 13.2%. Only two OPEC producing nations
|
| make it to any other world market due to
| |
| | will be considered in this example since
|
| logistic costs. Shipping oil to the
| |
| | expected future output from bitumen
|
| nearest transport hub, British Columbia
| |
| | reserves in year 2012 cannot displace all
|
| or refiners in Ontario, would be the only
| |
| | OPEC exports to the US. I chose to
|
| alternative for the crude. It is more
| |
| | include the largest two exporters and
|
| efficient to create and build upon the
| |
| | will account for their potential losses
|
| existing transportation system directly
| |
| | from an expanding oilsands industry.
|
| to the United States. As a result, there
| |
| | (These figures do not reflect recent 2006
|
| is potential for oilsands exports to
| |
| | market trends of increasing and
|
| replace OPEC exports to the US. However,
| |
| | increasing crude prices and the impact on
|
| the only method of achieving this is by
| |
| | consumer consumption.)Assuming market
|
| increasing current output and reducing
| |
| | conditions remain favourable for oilsands
|
| lifting costs. The question of whether US
| |
| | production, and the target volume in 2012
|
| importers will increase their Alberta
| |
| | is achieved, how could the US import
|
| consumption for oil is dependent on the
| |
| | market appear? Using regression analysis
|
| cost. Is it cheaper to construct a
| |
| | on US imports, and OPEC production, one
|
| pipeline directly from oilsands projects
| |
| | can extrapolate future market shares and
|
| in Alberta, or is it cheaper to import
| |
| | make assumptions regarding possible OPEC
|
| from the Middle East? Regardless of
| |
| | losses. Excluding any future market
|
| location, the consumer, or in this case
| |
| | shocks from either supply or demand, US
|
| the nation, will import from the lowest
| |
| | imports in the year 2012 will amount to
|
| cost producer. This suggests Saudi Arabia
| |
| | approximately 16.045 million barrels per
|
| will continue to export crude to the
| |
| | day. This is an increase of about 32.2%
|
| United States so long as they can
| |
| | from the year 2002. Increasing the import
|
| maintain lower costs. The higher
| |
| | percentage share of the three producers
|
| transportation costs are compensated by
| |
| | mentioned above by 32.2% will provide
|
| the lower marginal lifting costs. Thus,
| |
| | 2012 daily export values. Using the
|
| one of the major factors in determining
| |
| | 2.7million bbl/d oilsands value, and
|
| the success of the oilsands export market
| |
| | subtracting the future export volume of
|
| will hinge upon the producer's ability to
| |
| | Alberta crude, will provide a residual
|
| maintain an affordable product under
| |
| | value which can be applied to an increase
|
| market conditions. Presently this is the
| |
| | in export volumes. Assume for a moment
|
| case, high market prices support the
| |
| | this entire quantity is exported and none
|
| market for expensive bitumen
| |
| | is consumed domestically. 10.77% of
|
| exports.Potential Size of United States
| |
| | OPEC's entire production in 2012 may be
|
| Export MarketCurrently, Alberta accounts
| |
| | attributed to the US import market, if
|
| for over 10% of total American imports of
| |
| | the oilsands surplus is applied solely
|
| crude oil. It is feasible this value will
| |
| | against OPEC's share, it will be reduced
|
| increase when oilsands production expands
| |
| | to 6.71%, or a loss of about 494 million
|
| so long as it remains cost effective to
| |
| | barrels per year. The absolute maximum
|
| the importing market. Using data
| |
| | Alberta oilsands could displace total
|
| primarily from the BP Statistical Review
| |
| | OPEC production in year 2012 is just over
|
| of World Energy for 2004, with some data
| |
| | 4%. Is this value large enough to attract
|
| components from the Alberta Energy
| |
| | the attention of OPEC? Will OPEC prefer
|
| Department, one can extrapolate future US
| |
| | to hold oil reserves for future
|
| crude import volumes and percentage share
| |
| | production while watching the oilsands
|
| amongst importers. In the period between
| |
| | deplete, or will they attempt to
|
| 1993 and 2003, the United States
| |
| | recapture the lost market share?Part 3
|
| experienced declining production while
| |
| | and the conclusion is now available for
|
| supporting an increasing consumption
| |
| | your world oil reading
|
| trend. Imports therefore steadily
| |
| | pleasure....DiscussEconomics is an
|
| increased throughout this period. The
| |
| | informative Economics forum with complete
|
| result of an expanding import market
| |
| | categories for foreign exchange rate
|
| share is good news to the oilsands
| |
| | discussion, world oil and other energy
|
| producer, especially with declining world
| |
| | sectors, micro and macro choices,
|
| reserves. Examining 2002 import market
| |
| | personal finances, interest rate
|
| share states Alberta alone contributed
| |
| | movements, and other key economic
|
| 11.3% of total US imports for crude oil,
| |
| | indicators.
|
