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