CALGARY — The Alberta Energy Regulator says it expects the province's oilsands production to grow by more than 17 per cent by 2033.It predicts production of raw bitumen — the thick, sticky oil found in Alberta's oilsands region — will grow to four million barrels per day in 2033, up from the 3.4 million barrels per day that was produced last year.
Most of the growth is expected to come not from oilsands mines, but from in situ operations, which use steam to loosen up the oil deep below the surface of the earth. The AER also predicts global oil prices will continue to rise, from a projected average of US$76 per barrel for U.S. benchmark West Texas Intermediate for the current year to US$83.63 by 2033.The regulator says it believes fossil fuels will still be an important part of the global energy mix a decade from now as society seeks to balance the energy transition with affordability and reliability concerns.Bob N. worked well into his 80s before finally retiring at age 83.
NEW YORK -Oil prices edged up on Monday on the prospect of strong summer fuel demand and rising geopolitical tensions outweighed the effects of a stronger dollar. Brent futures for August delivery were up 53 cents to $85.77 a barrel, a 0.6% gain, by 11:38 a.m. EST . "The chief underlying reason behind the price strength ...
NEW YORK — Car dealerships in North America continue to wrestle with major disruptions that started last week with cyberattacks on a software company used widely in the auto retail sales sector.CALGARY — For the first time, Alberta's oil and gas industry has exceeded the province's own regulatory limit for natural gas flaring.