Canadian Resource Research

1. What resources Canada has?

 

Oil and Gas

Oil and gas resources have been discovered throughout the North. Exploration for these resources and their extraction disrupts the land. Pipelines have to be built to transport the oil to refineries. Sometimes pipelines are thousands of kilometres long. Pipelines disrupt migrating animals such as the caribou. There is also the possibility for oil and gas extraction in the Arctic Ocean. This would lead to a disruption of the marine environment and the possibility of oil spills.

Goldman Sachs cuts crude price forecasts for next five years

Published Monday, May 18, 2015 9:09AM EDT

Last updated Monday, May 18, 2015 9:37AM EDT

Brent crude oil will trade at $55 (U.S.) a barrel in five years according to Goldman Sachs Group Inc., more than $10 lower than current prices and a discount of $20 to 2020 futures.

The bank assumes that long-term oil prices could drop as companies make “efficiency and productivity” improvements, according to an e-mailed report dated May 15. Shale oil producers could break even with West Texas Intermediate crude, the U.S. benchmark, as low as $50 a barrel by 2020, it said.

Canadian Oil Sands Forecast by Bloomburg

Canadian Oil Sands Output Growth Defies Plunge in Prices: Energy

February 19, 2015 — 5:31 PM MST Updated on February 20, 2015 — 1:13 PM MS

(Bloomberg) -- The deluge of Canadian oil that’s adding to a global glut and driving prices lower is showing few signs of slowing.
Even with crude down 52 percent since June, output will grow 3.5 percent this year from the world’s fifth-biggest producer. The Canadian dollar is near a six-year low and materials cost less, helping oil sands producers cut costs and keep pumping. Oil would have to stay between $30 and $35 a barrel for at least six months, down from about $50 now, before wells and mines are shut, according to the Canadian Energy Research Institute.