Why are the Athabasca oil sands important?
The economic benefits extend beyond Alberta. Canada is a leading source of oil for the United States, the world’s largest consumer of oil. The oil sands contain enough oil to produce 2.5 million barrels of oil per day for 186 years. In 2015, the U.S. consumed 19.4 million barrels of oil per day.
How big are the Athabasca tar sands compared to the world’s total proven reserves of conventional petroleum?
Together, these oil sand deposits lie under 141,000 square kilometres (54,000 sq mi) of boreal forest and muskeg (peat bogs) and contain about 1.7 trillion barrels (270×109 m3) of bitumen in-place, comparable in magnitude to the world’s total proven reserves of conventional petroleum.
How big is the Athabasca oil sands?
54,900 square miles
One of the world’s largest reserves of oil sits under the boreal forest of northwestern Alberta, Canada. The deposit covers about 142,200 square kilometers (54,900 square miles), an area a little larger than the U.S. state of Wisconsin.
What are the advantages of oil sands?
Very large supply. Second largest oil field in the world.
What does Athabasca oil do?
Athabasca Oil is a liquids-weighted intermediate producer involved in the development of Canada’s most active resource plays (Montney, Duvernay, Oil Sands). We offer investors excellent exposure to oil prices and are focused on maximizing profitability through prudent capital activity across a diversified asset base.
Why are the Alberta oil sands unique?
Perhaps surprisingly, the oil sands don’t actually have any oil per se. Instead, a huge area about the size of Florida or Wisconsin north and east of Edmonton, Alberta, contains a tarry bitumen mixed with sand that is mined from underneath the boreal forest.
How were the Athabasca oil sands formed?
Over millions of years, that oil became trapped in thick layers of sand. Gradually, lighter hydrocarbons evaporated or were consumed by bacteria, leaving bitumen and water trapped in the sand. The area was then covered by glacial debris, but oil sands outcrops along the Athabasca River showed where deposits lay buried.
What are some cons for oil sands?
The Cons of Tar Sands
- Clear-cutting is often required to access deposits.
- Extracting bitumen from tar sands is carbon-intensive.
- Dependence on tar sands may just prolong the inevitable.
- The waste products from tar sands are highly toxic.
- Leaks from tar sands operations could harm people and animals in the region.
How old are the oil sands?
The Orinoco deposits are early Tertiary (50 to 60 million years old) sand-silt-shale sequences overlain by continuous thick shales, much like the Canadian deposits. In Venezuela, the Orinoco Belt oil sands range from 350 to 1,000 m (1,000 to 3,000 ft) deep and no surface outcrops exist.
How big are the oil sands?
It is approximately 600 kilometres (370 mi) from east to west, and 70 kilometres (43 mi) from north to south, with an area about 55,314 square kilometres (21,357 sq mi). The oil sands consist of large deposits of extra heavy crude.
How dirty are the oil sands?
Tar sands extraction emits up to three times more global warming pollution than does producing the same quantity of conventional crude. It also depletes and pollutes freshwater resources and creates giant ponds of toxic waste. Refining the sticky black substance produces piles of petroleum coke, a hazardous by-product.
How do oil sands affect the environment?
How do oil sands affect humans?
Oil sands (e.g., diluted bitumen) can negatively impact the environment and human health. Mining oil sands in Alberta, Canada, has led to degradation of forests and parts of the Athabasca River watershed. Short-term exposure to diluted bitumen can increase the risk of cancer and respiratory and neurological diseases.
Are oil sands good for the environment?
How were the oil sands created?
Alberta’s oil sands were formed millions of years ago, as tiny marine creatures died and drifted to the sea floor and were covered by layers of sediment that exerted enough pressure and temperatures to transform the organic matter into oil. Over millions of years, that oil became trapped in thick layers of sand.