Energy Business Daily

President Bush outlined plans to ease the country out of it's foreign oil dependence through the use of renewable energy resources, and reduce gas usage by a full 20% in 10 years through alternative fuels.

"Extending hope and opportunity depends on a stable supply of energy that keeps America's economy running and America's environment clean. For too long our nation has been dependent on foreign oil. And this dependence leaves us more vulnerable to hostile regimes, and to terrorists — who could cause huge disruptions of oil shipments, and raise the price of oil, and do great harm to our economy.
Securing Energy Assets and Infrastructure 2007

"It's in our vital interest to diversify America's energy supply — the way forward is through technology. We must continue changing the way America generates electric power, by even greater use of clean coal technology, solar and wind energy, and clean, safe nuclear power.

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We need to press on with battery research for plug-in and hybrid vehicles, and expand the use of clean diesel vehicles and biodiesel fuel. We must continue investing in new methods of producing ethanol — using everything from wood chips to grasses, to agricultural wastes.

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"We made a lot of progress, thanks to good policies here in Washington and the strong response of the market. And now even more dramatic advances are within reach. Tonight, I ask Congress to join me in pursuing a great goal. Let us build on the work we've done and reduce gasoline usage in the United States by 20 percent in the next 10 years. When we do that we will have cut our total imports by the equivalent of three-quarters of all the oil we now import from the Middle East.

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"To reach this goal, we must increase the supply of alternative fuels, by setting a mandatory fuels standard to require 35 billion gallons of renewable and alternative fuels in 2017 — and that is nearly five times the current target. At the same time, we need to reform and modernize fuel economy standards for cars the way we did for light trucks — and conserve up to 8.5 billion more gallons of gasoline by 2017. "Achieving these ambitious goals will dramatically reduce our dependence on foreign oil, but it's not going to eliminate it. And so as we continue to diversify our fuel supply, we must step up domestic oil production in environmentally sensitive ways.

And to further protect America against severe disruptions to our oil supply, I ask Congress to double the current capacity of the Strategic Petroleum Reserve. (Applause.) "America is on the verge of technological breakthroughs that will enable us to live our lives less dependent on oil. And these technologies will help us be better stewards of the environment, and they will help us to confront the serious challenge of global climate change."

alternative fuels energy industry energy reports foreign oil President Bush renewable energy

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With most of the world’s known oil reserves concentrated in just a few countries, unconventional energy resources, such as oil sands, are now seen as a viable alternative to conventional oil and gas resources, and an attractive option for energy risk abatement.

Unconventional energy resources are resources that heretofore could not be recovered due to economic and/or technological barriers. However, as the price of oil and gas skyrockets and technology drives down the cost of oil sands recovery and production, this resource has become the new “black gold.” The demand for oil sands is expected to reach 10.31 million bbl in 2008, up from 8.59 million barrels in 2003 at an average annual growth rate (AAGR) of 3.7%.

Oil sands are a combination of clay, sand, water, and bitumen. They are heavy, black and viscous, but can be mined and processed to extract the oil-rich bitumen, which is then refined into oil. While the energy properties and potential of oil sands have been recognized for centuries, there had been no significant attempt to develop the resource until the mid 1960s.

Oil sands are currently found in about 70 countries, including Canada, the former Soviet Union, Venezuela, Cuba, Indonesia, Brazil, Jordan, Madagascar, Trinidad, Colombia, Albania, Rumania, Spain, Portugal, Nigeria, and Argentina. The United States contains scattered deposits of oil sands, mainly in Utah, Kentucky, Kansas, Missouri, Oklahoma, California, and New Mexico.
http://www.energybusinessreports.com/shop/item.asp?itemid=1049
Three quarters of the world's reserves are located in two regions: Venezuela and the Athabasca region of northern Alberta and Saskatchewan in Canada. Oil sands represent as much as 66% of the world's total oil reserves, with at least 1.7 trillion barrels in the Canadian Athabasca tar sands and 1.8 trillion barrels in the Venezuelan Orinoco oil sands, compared to 1.75 trillion barrels of conventional oil, mostly located in Saudi Arabia and other Middle-Eastern countries.
Recently, investments in oil sands projects have become more attractive due to the increasing price of crude oil and technological advances that have enabled operators to bring down the cost of production. In less than 20 years of mining and upgrading, production costs have been cut in half.

It is expected that high oil prices, coupled with robust global oil demand, will continue to drive oil sands expansion. However, the prospects for oil sands as an energy source depend on the rate and costs at which they can be recovered and converted into quasi-conventional reserves, and challenges to extracting, transporting, and upgrading the resource remain. Moreover, production is sensitive to numerous outside factors, including the price of natural gas, the availability of water, and pipeline capacity to and from oil sands sites.

This report addresses these issues as well as issues relating to the economics, production, upgrading, transport, and marketing of oil sands. Get more Details here:
http://www.energybusinessreports.com/shop/item.asp?itemid=1049

energy energy reports energy source natural gas oil oil sands

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