Heavy oil sector optimistic about future
Posted Jun 7, 2016 11:13 am.
This article is more than 5 years old.
In conjunction with the Global Petroleum Show, which opened Tuesday at the Stampede grounds, is the Heavy Oil Technical Conference.
Over the next few days, members of the Society for Petroleum Engineers are discussing the latest technology designed to extract energy from places like the oilsands, while reducing its carbon footprint.
Conference Chair Heather Herring said despite uncertainty about things like price, market access and regulatory reform, because of increased demand for fossil fuels, heavy oil like the oilsands will be in demand for decades to come.
“Hard to see how we’re going to move away from fossil fuels, and we do need to get greener or we are going to see governments regulate the replacement of fossil fuels with other sources,” she said. “We’re going to find that a costly alternative.”
Herring said the industry has listened to its critics and is constantly working on new technology to reduce its carbon production.
She added that’s why it’s important heavy oil players around the world work together on solutions, which is something the conference helps facilitate.
