Click through the gallery below to see who the top paid Alberta energy CEOs are and how much they made. Main Menu U. News U. Politics Joe Biden Congress Extremism. The benchmark West Texas Intermediate oil price in the U.
The sharp rise in prices has prompted even world leaders committed to reducing emissions to call for more production. President Biden asked the Organization of the Petroleum Exporting Countries last year to boost production, after gasoline prices climbed, and in November he released oil from the U.
He also supported the construction of a replacement for Line 3, a pipeline operated by Calgary-based Enbridge Inc. The reasons cited include greenhouse-gas emissions and unattractive returns.
Chevron Corp. Some investment funds managed by BlackRock Inc. As international energy companies have moved out of the oil sands, though, smaller independents and private investors have come in, and some have moved to increase production.
Adam Waterous, chief executive of the Waterous Energy Fund, a Calgary-based private-equity firm, said the firm has bought three oil sands projects in Alberta over the past two years. Together, the projects produce between 50, and 60, barrels per day, a number he said could increase to , barrels a day within the next five years.
An 88,square-mile area in northeast Alberta, the oil sands boomed between and Global companies, lured to the region by high oil prices and plentiful supply, raced to Alberta to build extraction megaprojects with names like Sunrise, Peace River and Surmont.
Producers either claw the oil-infused sand out of the ground using excavators that look like dinosaurs, or pump the crude out of wells by injecting steam deep into the earth to liquefy it. The oil requires a lot of energy to extract and visibly scars the landscape. The mining process creates a slurry of quartz sand, water and toxic chemicals, which is kept in huge reservoirs called tailings ponds that are so big they can be seen from outer space. Right now there is an endless supply of job openings in Fort McMurray for anyone willing to relocate there.
There are several things you should consider before moving to Fort McMurray; living costs are far higher then one would expect from a comparably small northern Alberta area, and you are in a remote location.
Aside from those two small factors Fort McMurray is an excellent place to live and find work. Grande Prairie is surrounded by farmland and vast boreal forests. The major industries in Grande Prairie are oil, natural gas, forestry, and agriculture.
Edmonton is the Capital city of Alberta and boasts the provinces second largest population with over , permanent residents. Edmonton is the staging point for the large scale oil sands projects in northern Alberta as well as the Northwest Territories large diamond operations. Phone orders: Same-Day Services In many cases, we can fulfill your order the same day you place it.
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