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Shell Earnings on Alberta Oil Sands Outstrip Projects Elsewh

Bloomberg.com -- By Eduard Gismatullin

Royal Dutch Shell Plc, which plans to produce oil from Canada’s tar sands for 40 years, earned 67 percent more from operations in Alberta than from projects elsewhere between 2005 and 2009.

The company earned $20 a barrel from oil-sand mining on average, more than the $12 a barrel it gained from extraction projects excluding tar sands, The Hague-based Shell said a report posted this week on its Web site. Oil sands contributed $3.1 billion to Shell’s earnings in the period.

Excerpt

Shell, with partners Chevron Corp. and Marathon Oil Corp., is mining oil sands in the Canadian province of Alberta. The Athabasca Oil Sand Project plans to expand production capacity by about 65 percent to about 255,000 barrels a day this year or next year,

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Submitted Mar 20, 2010 By: UncleCurt

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troy_k Rookie Author Toronto Posts:2 Points:290 Joined:Sep 2005	Message Posted: Mar 22, 2010 12:45:16 PM Ignore troy_k Report Abuse "We import the most oil from Canada. However these projects may be ruining the environment more than the burning of coal. Conservation keeps your money in your pocket."The oil sands account for 5% of Canada's total emissions. To put it another way; they represent 0.1% of total global emissions. You could shut down all oil sands production tomorrow and China would replace those emissions with new coal fired power generation inside 1 month. Also, when you hear someone say that there development is destroying the enviroment in northern Alberta remember this. They have the same land mass footprint as the John F. Kennedy Space Center in Florida. You could fit more then a few Florida's inside northern Alberta and most of that land is pristine wilderness.
Blue48 Champion Author Illinois Posts:4,960 Points:1,172,120 Joined:Feb 2007	Message Posted: Mar 21, 2010 1:18:13 PM Ignore Blue48 Report Abuse WE LOVE YOU..YOU CRAZY CANDIANS!!
1006 All-Star Author Birmingham Posts:929 Points:1,027,495 Joined:Apr 2008	Message Posted: Mar 21, 2010 6:13:00 AM Ignore 1006 Report Abuse thanks Uncle curt
knot2swift Champion Author Calgary Posts:2,433 Points:413,335 Joined:Nov 2009	Message Posted: Mar 20, 2010 6:34:24 PM Ignore knot2swift Report Abuse Tar Sands only need a price of about $50 a barrel. Many projects got put on hold last spring thanks to oil less than that. I think another whole year of sustained $70+ a barrel will put about $100 billion worth of projects put off back on line.
VWC Veteran Author Maryland Posts:450 Points:730,490 Joined:Oct 2004	Message Posted: Mar 20, 2010 6:31:39 PM Ignore VWC Report Abuse What we should look at is not their net profit but their profit margin. The make big bucks because they sell a lot of their product.
ndhoanggia All-Star Author New York Posts:696 Points:215,505 Joined:Apr 2009	Message Posted: Mar 20, 2010 6:24:58 PM Ignore ndhoanggia Report Abuse @DEG, yeah, how?
divebomber Champion Author Nebraska Posts:3,709 Points:1,344,340 Joined:Jun 2007	Message Posted: Mar 20, 2010 6:24:51 PM Ignore divebomber Report Abuse The more they make the more $$$$$$$$$ we pay.
DrLyon Champion Author Michigan Posts:4,444 Points:752,060 Joined:May 2006	Message Posted: Mar 20, 2010 6:19:38 PM Ignore DrLyon Report Abuse Marathon is not competing here in Michigan. Speedway is there subsidiary company here and locally they are not the best price. Usually Mobil is. Further in the are there have been several Marathon stations close...
johnrb Champion Author Michigan Posts:6,041 Points:1,554,905 Joined:Oct 2006	Message Posted: Mar 20, 2010 6:14:34 PM Ignore johnrb Report Abuse So they make more because they are not shipping it so far and it's subsidized by the Canadians. Pity we don't see the benefit of cheaper prices!
DEG Champion Author Las Vegas Posts:15,397 Points:3,054,380 Joined:Jul 2003	Message Posted: Mar 20, 2010 6:07:47 PM Ignore DEG Report Abuse And how is this being translated to prices at the pump?
TheSnowstorm Champion Author Montreal Posts:6,817 Points:1,473,500 Joined:June 2005	Message Posted: Mar 20, 2010 6:05:49 PM Ignore TheSnowstorm Report Abuse There must be a premium on the barrel from the tar sands.
oldosc8 Champion Author Baltimore Posts:1,541 Points:376,330 Joined:Nov 2009	Message Posted: Mar 20, 2010 5:55:18 PM Ignore oldosc8 Report Abuse keep on drilling...
Jarod13 Champion Author Virginia Posts:3,470 Points:1,048,855 Joined:Oct 2008	Message Posted: Mar 20, 2010 5:54:15 PM Ignore Jarod13 Report Abuse It just goes to show how overpriced a barrel of oil is.
DrCashFlow Champion Author Massachusetts Posts:4,775 Points:1,168,555 Joined:Jun 2008	Message Posted: Mar 20, 2010 5:53:19 PM Ignore DrCashFlow Report Abuse impressive, as oil sands are not cheap extraction territory per barrel.
djtdi Champion Author San Jose Posts:2,829 Points:523,805 Joined:Aug 2005	Message Posted: Mar 20, 2010 5:47:13 PM Ignore djtdi Report Abuse Good for Shell and its cohorts. It takes money to make money as the article shows, profit seems to be 100% of cost.
HawaiianGuy Champion Author Idaho Posts:7,171 Points:2,617,065 Joined:May 2003	Message Posted: Mar 20, 2010 5:43:08 PM Ignore HawaiianGuy Report Abuse Not if the EnviroNazis have their way.
Zeke33 Champion Author New Hampshire Posts:3,867 Points:1,277,835 Joined:Sep 2005	Message Posted: Mar 20, 2010 5:41:49 PM Ignore Zeke33 Report Abuse It jsut goes to show how overpriced a barrel of oil is.
tc316 Champion Author Twin Cities Posts:7,735 Points:1,270,905 Joined:Apr 2007	Message Posted: Mar 20, 2010 5:36:08 PM Ignore tc316 Report Abuse Good for Shell
threewheeler Champion Author Seattle Posts:2,377 Points:318,330 Joined:Jun 2008	Message Posted: Mar 20, 2010 5:27:47 PM Ignore threewheeler Report Abuse as long as this keeps oil prices down and jobs in NA
30mpg80 Champion Author Lexington Posts:4,486 Points:1,021,970 Joined:Nov 2008	Message Posted: Mar 20, 2010 5:25:45 PM Ignore 30mpg80 Report Abuse This proves plenty of money to be made from oilsand deposits. Drill more, now, more prodution from Canada and USA. Send less money to OPEC.
Wolfwings Champion Author Delaware Posts:6,398 Points:1,312,115 Joined:May 2004	Message Posted: Mar 20, 2010 5:24:21 PM Ignore Wolfwings Report Abuse What changes will I see at the pump?
Helms Champion Author Fort Worth Posts:4,724 Points:1,494,080 Joined:Jun 2005	Message Posted: Mar 20, 2010 5:23:53 PM Ignore Helms Report Abuse good day for canada (and shell) eh?
mvosevich Champion Author St. Louis Posts:5,453 Points:1,108,165 Joined:Aug 2004	Message Posted: Mar 20, 2010 5:22:45 PM Ignore mvosevich Report Abuse To bad for OPEC.
letmathe Champion Author Chicago Posts:12,416 Points:2,730,115 Joined:May 2001	Message Posted: Mar 20, 2010 5:22:32 PM Ignore letmathe Report Abuse OHMS ... fun comment, except that consumers get to pay or walk! Now that's having some flesh in the game!!
LPman Veteran Author Arkansas Posts:383 Points:1,096,300 Joined:Aug 2006	Message Posted: Mar 20, 2010 5:21:43 PM Ignore LPman Report Abuse Big oil making big $$$$
sjl08203 Champion Author New Jersey Posts:5,865 Points:1,329,350 Joined:Aug 2005	Message Posted: Mar 20, 2010 5:21:11 PM Ignore sjl08203 Report Abuse If it is not from the mid-east,t is good
OHMS Champion Author Orange County Posts:10,792 Points:1,249,445 Joined:May 2005	Message Posted: Mar 20, 2010 5:19:37 PM Ignore OHMS Report Abuse This is one shell game where the consumer doesn't have much chance of getting a stake
eddmac Champion Author Washington Posts:5,526 Points:1,234,975 Joined:May 2006	Message Posted: Mar 20, 2010 5:08:26 PM Ignore eddmac Report Abuse As resources shrink more of this will happen
imadriver Veteran Author Twin Cities Posts:491 Points:283,915 Joined:Dec 2009	Message Posted: Mar 20, 2010 5:06:34 PM Ignore imadriver Report Abuse It is better to have a North American neighbor doing well with its oil-sand mining than to have an OPEC nation experience ever-increasing profits from what lies beneath its sand.
nojsts Champion Author St. Louis Posts:14,048 Points:2,829,905 Joined:May 2002	Message Posted: Mar 20, 2010 5:06:23 PM Ignore nojsts Report Abuse Will this make gas cheaper?
emptytank08 All-Star Author Pennsylvania Posts:662 Points:1,055,430 Joined:Aug 2008	Message Posted: Mar 20, 2010 5:03:34 PM Ignore emptytank08 Report Abuse How much is this going to cost us
Ken2OD Champion Author Grand Rapids Posts:6,673 Points:1,506,000 Joined:Dec 2005	Message Posted: Mar 20, 2010 5:03:20 PM Ignore Ken2OD Report Abuse Ask and ye shall receive. I commented just yesterday about more getting information regarding oil sands, and here it is today.
esquared Champion Author Oklahoma City Posts:6,082 Points:1,573,875 Joined:Jan 2006	Message Posted: Mar 20, 2010 5:00:54 PM Ignore esquared Report Abuse MiniFan, not unless we cut consumption simultaneously.
MiniFan Champion Author California Posts:2,223 Points:749,050 Joined:Nov 2008	Message Posted: Mar 20, 2010 4:55:20 PM Ignore MiniFan Report Abuse is this going to lower our prices?
opecsucks76 Champion Author Milwaukee Posts:2,716 Points:713,825 Joined:Jan 2009	Message Posted: Mar 20, 2010 4:53:02 PM Ignore opecsucks76 Report Abuse It is a labor intensive effort to get the oil out of the sand
arinkrat17 Champion Author Twin Cities Posts:3,999 Points:866,995 Joined:Aug 2009	Message Posted: Mar 20, 2010 4:44:51 PM Ignore arinkrat17 Report Abuse oil always makes a profit
mickealo Champion Author Spokane Posts:3,904 Points:1,697,015 Joined:Oct 2006	Message Posted: Mar 20, 2010 4:41:16 PM Ignore mickealo Report Abuse oil will always be profitable for oil company because they just raise price when ever they want
MDTDriver Champion Author California Posts:7,445 Points:1,692,010 Joined:Jul 2006	Message Posted: Mar 20, 2010 4:33:50 PM Ignore MDTDriver Report Abuse oil profit no matter what they do
4warned Champion Author Michigan Posts:5,512 Points:1,739,140 Joined:Nov 2006	Message Posted: Mar 20, 2010 4:29:28 PM Ignore 4warned Report Abuse Oil still making good profits no matter where they mine.
kingpin6 Champion Author Arkansas Posts:2,567 Points:1,188,390 Joined:Jul 2007	Message Posted: Mar 20, 2010 4:23:59 PM Ignore kingpin6 Report Abuse Somebody had to take a chance on the oil sands. Might play out better than I thought it would.
Retowered Champion Author Colorado Posts:6,203 Points:2,217,460 Joined:May 2004	Message Posted: Mar 20, 2010 4:19:00 PM Ignore Retowered Report Abuse Good for Shell, hope it works out.
NavyStore Champion Author Seattle Posts:3,768 Points:1,658,815 Joined:Aug 2005	Message Posted: Mar 20, 2010 4:17:53 PM Ignore NavyStore Report Abuse Yeah! or Boo!... Tar Sands are an ecological mess and I don't care if an oil company makes money, because in the end they are just another form of drug pusher.
ricker8 Champion Author Ontario Posts:3,128 Points:675,325 Joined:Oct 2008	Message Posted: Mar 20, 2010 4:13:45 PM Ignore ricker8 Report Abuse great, more jobs [Edited by: ricker8 at 3/20/2010 5:13:59 PM EST]
sivart Champion Author Arkansas Posts:15,131 Points:2,611,780 Joined:May 2004	Message Posted: Mar 20, 2010 4:11:06 PM Ignore sivart Report Abuse I hope they are doing it environmentally clean!
skynet Champion Author California Posts:2,841 Points:666,810 Joined:May 2008	Message Posted: Mar 20, 2010 4:08:54 PM Ignore skynet Report Abuse That's pretty awesome for Shell and Canada.
niceguytx Champion Author Houston Posts:11,407 Points:2,250,070 Joined:Sep 2005	Message Posted: Mar 20, 2010 4:08:32 PM Ignore niceguytx Report Abuse I wonder how true that is and whether it can last.
BurntOrange Champion Author Austin Posts:5,935 Points:1,124,630 Joined:Nov 2007	Message Posted: Mar 20, 2010 4:07:23 PM Ignore BurntOrange Report Abuse Interesting. I wonder how their cost per barrel compares to their original plan.
aarrrt Champion Author San Diego Posts:5,422 Points:1,211,190 Joined:May 2008	Message Posted: Mar 20, 2010 4:05:44 PM Ignore aarrrt Report Abuse I thought the process was too expensive, guess they did ok.
us4usa Champion Author Missouri Posts:3,820 Points:680,225 Joined:May 2008	Message Posted: Mar 20, 2010 3:54:57 PM Ignore us4usa Report Abuse hopefully we will not need that much oil in 40 years
RoadhogMA Champion Author Boston Posts:4,209 Points:895,045 Joined:Dec 2008	Message Posted: Mar 20, 2010 3:51:45 PM Ignore RoadhogMA Report Abuse Good for Shell.