Transcript Slide 1
Maguire Energy Institute Bruce Bullock Maguire Energy Institute 1 Institute History • 30 year-old think tank • Part of the SMU Cox School of Business, one of the top U.S. Business schools • 30 member Board of Directors • 3 full-time staff – Bruce Bullock, Director – Dr. Bud Weinstein, Associate Director – Marsha Faram, Program Manager 2 Areas of Focus Student Academic & Enrichment Programs •Energy Clubs •Campus Events •MBA Energy Finance •BBA Energy Concentration Policymakers Influencers Policy and Research •Studies •Articles •Partnerships Public •Pitts Lecture Series •Pitts Energy Leadership Award •Other Events 3 Funded Research Includes • • • • • • • American Wind Energy Association American Petroleum Institute Consumer Energy Alliance Shallow Water Drillers Association Broome County, New York Portland Cement Association Gulf Economic Survival Team 4 Alberta’s Location Anchorage 2,277 km Alberta Vancouver 817 km Alberta covers 661,190 km2 , an area slightly less than Texas Ottawa 2,847km New York City 3,270 km Houston 3,018 km Mexico City 3,973 km London 6,793 km World oil reserves (billions of barrels - established) Saudi Arabia 260 Venezuela 211 Alberta/Canada 175 Alberta (171) Iran 137 Iraq 115 Kuwait 101.5 Abu Dhabi 92 Russia 60 Libya 46 37 Nigeria Kazakhstan 30 Qatar 25 Only 21% of the world’s proven oil reserves are accessible to China 20 private sector investment (not state controlled). 53% of the USA 19 world’s open and accessible reserve are in Alberta’s oil Brazil Mexico 13 10 SOURCE: Oil & Gas Journal, January 2011 sands. Economic Highlights Exports Alberta's Global Exports in 2010 (US$ Billions) Other Energy, $2.6 Natural Gas and Gas Liquids, $13.6 Forestry, $2.2 Manufacturing, $4.1 Other, $21.6 Crude Oil, $37.7 Agriculture, $6.5 Metals and Metal Manufacturing, $1.8 Petrochemicals, $6 Other, $1.6 Total: US$75.6 Billion Key Export Markets Distribution of Alberta's Export Destination by Region in 2010 European Union 11% Mexico 7% Latin America 14% Other 7% United States 87% Other 13% Other Asia 20% Other incl. Other Europe, Middle East, Africa 15% Japan 14% China 27% Asia Pacific 61% What are the oil sands? • Naturally occurring mixture of sand, clay, water and bitumen – a very heavy oil • Bitumen is separated from the sand and upgraded to refineryready crude oil Oil sands: In situ and Mining In situ Steam Assisted Gravity Drainage Cyclic Steam Process • 80% of resource • 45% of production Mining • 20% of resource • 55% of production