Bloomberg.com
By Tina Seeley
Oct. 8 (Bloomberg) — Higher costs and low oil prices are limiting further development of oil sands projects in Canada, the chief executive officer of Royal Dutch Shell Plc said.
Costs have risen very clearly in the Alberta region for new projects, hence new projects are not entirely profitable at todays oil prices, Peter Voser told reporters today after giving a speech in Washington. Costs have to adjust to lower oil prices. Once they come down, then further projects can be considered.
Voser said existing oil sands projects and those under construction now are profitable. Companies extract the oil by using heat to separate fuel from tar-like sands.
Environmentalists say the process is more energy intensive, generating more greenhouse-gas emissions than other methods of retrieving oil.
Canadas oil sands hold the worlds second-biggest crude reserves after Saudi Arabia. The reserves are located about 750 kilometers (466 miles) north of Calgary. Output from the oil sands may almost double to 2.2 million barrels a day by 2015, the Canadian Association of Petroleum Producers estimates.
Crude oil for November delivery climbed $2.13, or 3.1 percent, to $71.70 a barrel at 1:48 p.m. on the New York Mercantile Exchange. Futures touched $72.55, the highest since Sept. 18. Oil has traded between $65.05 and $75 since Aug. 1.
He also said The Hague-based company is working with the Canadian government to capture and store carbon dioxide emissions from the oil sands projects.
Voser said the company is involved in a project that will sequester 1.1 million tons of CO2, roughly 20 percent of the CO2 we generate, which will actually bring oil sands back to normal, average conventional crude oil from a CO2 perspective.
To contact the reporter on this story: Tina Seeley in Washington at [email protected].
Last Updated: October 8, 2009 14:16 EDT
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
