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Blogger Conference Call: Benefits of Canadian Oil Sands Development

Blogger Conference Call: Benefits of Canadian Oil Sands Development

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Published by Energy Tomorrow
On February 25, Cindy Schild, API's refining manager, and Rayola Dougher, API's senior economic advisor, hosted a conference call to brief bloggers on the economic benefits of expanded oil sands development
On February 25, Cindy Schild, API's refining manager, and Rayola Dougher, API's senior economic advisor, hosted a conference call to brief bloggers on the economic benefits of expanded oil sands development

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Published by: Energy Tomorrow on Mar 01, 2011
Copyright:Attribution Non-commercial No-derivs


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Jane Van Ryan, API
Cindy Schild,Refining Manager,APIRayola Dougher,Senior Economic Advisor,API
Transcript byFederal News ServiceWashington, D.C.
 (Music.)00:01 OPERATOR: You’re listening to “Energy Conversations with API,” brought toyou by the people of America’s oil and natural gas industry.(Music.)00:13 JANE VAN RYAN: We’re going to open up the blogger conference call with acouple of opening statements. The speakers today are Rayola Dougher and Cindy Schild. Youshould have received that information when you received the invitation to the blogger call. Andwithout further ado, why don’t we get started? Cindy, would you like to begin?00:31 CINDY SCHILD: Sure. Good morning, everyone. I’ll have a few openingcomments and then Rayola Dougher, API’s senior economic advisor, will offer her perspectivebefore we go to questions. Also on the phone with us this morning is Dan Gunderson, ourrepresentative in the field, who is available to answer your questions as well.The United States Department of State is reviewing a permit application for theconstruction of theKeystone XL Pipeline Project, designed to bring Canadian oil to Americanrefineries. This is an extremely important project that, if approved, will bring crude oil from ourfriendly, reliable northern next-door neighbor to refineries along the Gulf Coast, replacingmillions of barrels of oil now imported from elsewhere.Oil sands development in Canada is leading to the creation of more than 342,000 newAmerican jobs, has the potential to add 34 billion (dollars) to gross domestic product by 2015,according to theCanadian Energy Research Institute. With the State Department decision onthis pivotal pipeline now not expected until mid to later this year, the estimated 13,000 new jobsand $20 billion dollars in spending to the U.S. economy from this project alone stand on hold.01: 54 Positive action on the permit could not come at a more important time for ournation. Not only is this a chance for the White House to strengthen U.S. energy security andhelp plan for the nation’s energy future, but it’s also an opportunity to take a specific, public anddramatic action in support of creating new U.S. jobs.As the time approaches for the State Department to make its decision, you will no doubthear a lot of arguments, pro and con, regarding this issue. There is too much misinformationbeing disseminated by those who, for whatever reason, insist that all use of oil by Americans haltimmediately.We believe it is important that Americans know the facts regarding the construction of this pipeline and the flow of millions of barrels of oil from Canada, what it will mean to theUnited States and our citizens.That is all that I have. And now Rayola will highlight some of these facts for us.
02:52 RAYOLA DOUGHER: Good morning, everyone. Events such as the recentturmoil in Libya have the effect of causing Americans to become concerned about how they willaffect the supply of crude oil and what that that will mean to their pocketbooks. And theseconcerns are certainly justified.American consumers know that the United States still gets a good deal of its oil frompolitically unstable regions of the world. One fact that is not as well known, however, is that ournumber-one supplier of imported oil is not thousands of miles away on the other side of a vastocean. It is instead our friendly and reliable neighbor to the north. And as such, Canadaprovides 12 percent of America’s oil consumption. And Canada can provide more of the energyAmerica will need through development of its vast oil sands reserves –the second-largest provenoil reserves on earth.In fact,over one-fourth of America’s daily oil needs could come from Canada by 2030.That’s enough to meet more than all of the oil consumed by the 15 Midwestern states today orit’s enough to supply almost two-thirds of all the gasoline used in the United States today. Andthat would substantially lower our reliance for our oil on potentially unstable regions of theworld.In addition to replacing millions of barrels of oil now imported from elsewhere, thedevelopment of oil sands in Canada can support significant economic growth and job creation inthis country, as Cindy mentioned. At a time when our economy is still fragile and jobs are stillscarce, this is an opportunity we can’t afford to miss.And some interest groups oppose oil sands development and seek to block the permittingof U.S. facilities to handle oil sands imports. They claim renewables can substitute for oil. Butthe reality is that renewables cannot and will not replace oil or oil imports for decades to come.And if we don’t import oil from Canada, we will import it from elsewhere. And other globalconsumers, including China, will buy oil sands oil.04: 59 Restricting imports of oil from Canada will not reduce overall oil use or reduceenvironmental impacts. And these environmental concerns should and are being addressed.Canada is implementing serious programs to protect forests, manage water use and return landback to its natural state after operations are completed.And on a lifecycle or“well-to-wheels” greenhouse gas emission basis, oil derived fromCanadian oil sands is comparable with other crudes refined in the United States, including oilfrom California. For decades, this crude has been transported by pipeline under existingregulations, which require operators to take into account product characteristics to mitigate risk.Pipelines are the safest and most efficient way to move energy products. Approval of thepipeline will ensure that more of Canada’s oil will be processed by U.S. refineries, which are thecleanest and most efficient in the world.

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