Marlon,
> One only has
> to look at the richer tar sands in Alberta. They are
> profitable only when oil prices are greater than
> 80-100$ as is the case now.
Some minor corrections. Some oil sands projects will turn a profit if they can
sell oil above $35. The newer projects need oil prices to be above $55. The
problem is that these projects burn natural gas, a clean fuel, to produce
petrol, a polluting fuel. California is already passing laws that would
effectively ban oil from Alberta.
Secondly, the Japanese Govt has been subsidizing the development of hybrid cars
for the past twelve years. The US car manufactures have, during the same
period, lobbied the US govt not to increase the fuel efficiency of US cars. The
result is that the US is now producing cars with dinosaur engines that no one
wants to buy.
Third, with fuel at $140 a barrel, the cost of transporting China's products to
the US is becoming so expensive that it may soon become cheaper to manufacture
some products in America. Cheney/Bush are to be thanked for bringing
some Chinese jobs to America.
Mervyn3.0
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