correct, Alberta contains the second-largest known oil reserve, after Saudi Arabia. If the world consumption of oil stays averaged at nearly 80 million barrels per day. How many years could the Alberta oil sands sustain global oil consumption on its own? Answer years Assuming the average price per barrel of oil is $95.00 CDN, what is the total value of Alberta's oil sands in trillions of dollars? Answer trillion CDN $ Looking for the "answers" Thank You!
Canada has a massive resource of bitumen in the Athabasca oil sands near Fort McMurray. These deposits are also commonly known as tar sands, because of the sticky nature of the bitumen, which is disseminated in sandstone host rock. Note, the location of oil sands near the Athabasca River in Question 7 above. As oil accumulated in the shallow trap (the one that is drilled!), over geological time, some of it escaped over the spill-point of the trap and flowed, under buoyancy (oil is less dense than water), beneath the shale caprock that retains it. Near the surface, this oil collected near the Athabasca river and progressively degrades from crude into bitumen, a lower grade ‘dirty’ form of viscous and dense oil that requires significant refining after it has been physically separated from the encasing sands of the McMurray Formation.
Despite the complications in exploiting bitumen from oil sands, relative to pumping crude, the bitumen resources of Alberta are enormous volumetrically. Although estimates vary somewhat, approximately 1 trillion barrels of oil are believed to be contained in this region (= one million million, or 1x1012, barrels). If this value is correct, Alberta contains the second-largest known oil reserve, after Saudi Arabia.
If the world consumption of oil stays averaged at nearly 80 million barrels per day. How many years could the Alberta oil sands sustain global oil consumption on its own?
Answer years
Assuming the average price per barrel of oil is $95.00 CDN, what is the total value of Alberta's oil sands in trillions of dollars?
Answer trillion CDN $
Looking for the "answers"
Thank You!
Step by step
Solved in 2 steps with 1 images
