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As of 2009, Syncrude and Irving Oil were leaders in the Canadian industry, with Syncrude being the top producer of oil sands crude and Irving Oil operating the largest oil refinery in the country. [5] Canadian oil company profits quickly recovered following the 2008 financial crisis; In 2009 they were down 90% but in 2010 they reached $8.4 billion.
The issue is still subject of numerous studies, and prompting academic argument. That's mainly because the "energy invested" critically depends on technology, methodology, and system boundary assumptions, resulting in a range from a maximum of 2000 kWh/m 2 of module area down to a minimum of 300 kWh/m 2 with a median value of 585 kWh/m 2 according to a meta-study from 2013.
With the exception of the pipeline, the tanker is the most cost-effective way to move oil today. [38] Worldwide, tankers carry some 2 billion barrels (3.2 × 10 11 L) annually, and the cost of transportation by tanker amounts to only US$0.02 per gallon at the pump. [38]
The viscosity of diesel is 2.5–3.2 cSt at 40 °C and the viscosity of biodiesel made from soybean oil is between 4.2 and 4.6 cSt [153] The viscosity of diesel must be high enough to provide sufficient lubrication for the engine parts but low enough to flow at operational temperature.
In 2014, Alberta had the second-largest economy in Canada after Ontario, with a GDP exceeding CA$376 billion. [94] The GDP of the province calculated at basic prices rose by 4.6% in 2017 to $327.4 billion, which was the largest increase recorded in Canada, and it ended two consecutive years of decreases. [95]
By 2008, such pressures appeared to have an insignificant impact on oil prices given the onset of the global recession. [12] The recession caused demand for energy to shrink in late 2008, with oil prices collapsing from the July 2008 high of $147 to a December 2008 low of $32. [13]
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