In previous podcasts, we discussed the implications of moving towards nonconventional oil. Heavy oils, in abundant supply, are no doubt going to make up a large part of our oil consumption in the not so far future. They are very hard to produce, and generally require heat to mobilize the sticky, tar-like substance. The most commonly used method is steam flooding, where steam is injected into the oil reservoir. But it takes energy to create the steam, which is typically produced by burning gas. Voila: a large carbon footprint.

This is part II of Tony Kovscek’s discussion of heavy oil.

The world is not running out of oil any time soon, at least not the easier to get to, lighter kind. It is estimated that there are of the order of a trillion barrels of heavy oil in the world that can be produced at the current oil price. Is this good news? Not necessarily. These heavy oils, like the tar sands in Alberta or the shale oil in the Rockies, are currently being produced with techniques that are not environmentally friendly.

Western Canada is very rich in heavy oils. These thick oils that have the consistency of molasses or even peanut butter are rather tricky to produce in an environmentally friendly manner. However, with our strong dependency in the next several decades on petroleum, and the decline of easy to produce oil reserves, it is inevitable that the production of these oils will increase. The prospect is not that rosy, given the current state of technology. However, experts in the petroleum industry are adamant that green and sustainable ways for their production will be found.

Listen to Ian Gates from the University of Calgary, who explains why Alberta faces potential wealth, but also many challenges.

We’re not running out of oil, but we may be running out of the oil in easy-to-reach places. That’s because oil doesn’t sit in a big pool just below the surface — it’s always been hard to reach, but the more we use, the harder it’s getting. In this second podcast in a series on oil, gas and coal, we continue to learn about some of the hard realities facing us as we deal with the energy sources we will all depend on for the foreseeable future.

The US imports 10 million barrels of oil per day. This is more than it is producing itself, and over half of its oil consumption. If the US keeps consuming oil as it is now, imports will make up an estimated 70% of consumption in 2025.

It has been suggested by various policy makers that the US can be made energy independent within the next decade or two by simply growing more biomass, combined with oil savings. This is a myth. The volumes are simply too high.

John Hofmeister, Shell Oil president, sees an important role for his company in supplying the world’s energy in the future. Petroleum (oil and gas) will remain, at least for the near to medium future, the most important energy resource. Shell is also investing, as are many other energy companies, in renewable energy (wind, solar, biofuels) as well as so-called clean coal. Hear John Hofmeister’s views on Shell’s future directions and current energy policies.