Climate calculus

A column by Jeffrey Simpson in the Globe and Mail got me thinking about climate calculus.

Image

Here’s an excerpt:

“One line item in every Alberta budget shows how the miracle unfolds: non-renewable energy resources. Last year, Alberta took in $8.6-billion in personal income taxes, $3.6-billion in corporate income taxes, $3.8-billion in “other” revenue, $4.7-billion in federal transfers and $8.3-billion in resource revenues. In other words, oil and gas revenues (about half of which – $4.1-billion – came from tar sands oil) poured almost as much money into the Alberta treasury as personal income taxes. What provincial government wouldn’t love that?”

Alberta’s government took in as much revenue in oil and gas revenues as it did personal income taxes. 
.
Half from the tar sands.
.
The Alberta government’s policy on environment? It has passed legislation to force producers to reduce intensity of emissions by 12% from 2003- 2005 levels. Intensity is a measure of the rate of emissions, calculated as a ratio of CO2 to a measure of economic output. Note that this doesn’t limit total emissions per se, and in fact, total emissions can and will continue to increase even as intensity decreases. While this is better than nothing, it does not mean that emissions will actually decline from current levels.
.
  • In 2009, total reported GHG emissions were 113.3 megatons of CO2e (equivalent), representing 41% of Canada’s emissions from large industrial emitters.
  • WTI Crude oil is currently selling at $99B, while Brent Crude is at $117 a barrel.
  • The Alberta government gets approximately 15% of the value of crude produced in the province.
  • Alberta proven conventional oil reserves = 1.5B barrels.
  • Alberta’s proven uncoventional oil reserves (tar sands) = 169.3B barrels, 80% recoverable by in-situ methods and 20% by surface mining methods.
  • In 2010, Alberta exported 1.4M barrels of oil a day.
  • The Alberta crown owns 97% of the mineral rights for the province.
  • 50% of the crude produced is upgraded in Alberta.
You do the math…
Advertisements

About Policy Lass

Exploring skeptic tales.

2 Responses to “Climate calculus”

  1. And Kevin Taft can tell you where all that money is going:

    http://www.albertadiary.ca/2012/01/kevin-taft-follows-albertas-money-and.html

  2. “Alberta proven conventional oil reserves = 1.5B barrels.”

    That’ll probably mean around 850m barrels in reality, then, given the amount any independent audits of these things tend to reduce the claimed “proven” reserves by.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: