GEOG 361 Lecture Notes - Lecture 15: Energy East, Steam-Assisted Gravity Drainage, Syncrude
Document Summary
Middle east = key strategic region for industrializing nations: middle-eastern states formed opec(organization of petroleum exporting countries) Later enlarged to include non-middle east gulf countries. Created an oligopoly that could control prices through supply: two oil price hikes of 1973 and 1975 produced major shocks to industrialized and industrializing worlds. Alberta: the best of times, the worst of times: At times, alberta led nation in economic performance: presently, it is in deep doldrums. U(cid:374)til (cid:1005)94(cid:1004)"s: al(cid:271)erta = prairie agricultural economy. Leduc (just outside edmonton) strike: feb 13, 1947: 200-million-barrel reserve. Historically alberta relied on conventional crude oil as basis of its staples economy: much of which was shipped to us to be processed, easy crude was running out. Oil fueled staples economy: most used for exports, like conventional staples, valued added processing was(cid:374)"t do(cid:374)e i(cid:374) the pro(cid:448)i(cid:374)(cid:272)e, (cid:271)ut somewhere else. Oil sands in n. alberta come to rescue: athabasca, cold lake, peace river.