Oil Sands: Reshaping Economies for the Better

Considering the oil sands region resides in Canada, we deem it part of our mission at OSFC to take a critical look at the latest information coming from the homeland to stay ahead of the curve. One such opportunity to shed light on the Canadian side of the debate came about last week with the […]

Myth vs. Fact: Plenty of Crude Oil Supply, Refineries are at Below Capacity

MYTH: We have plenty of crude oil supply and our refineries are operating below capacity. FACT:  According to a 2011 Congressional Research Service report, Venezuelan and Mexican crude oil production is declining and refiners will need additional feedstock to refine and supply the U.S. market. Additional supplies will come from heavier crude supplies in the […]

Myth vs. Fact: More Pipeline Capacity Does not Equal More Energy Security

MYTH: More pipeline capacity won’t mean more energy security.  We already have more pipelines than we need. FACT: According to congressional testimony of David Goldwyn, former International Energy Envoy to Secretary of State Hillary Clinton, “Keystone XL will provide infrastructure security. Pipeline access from Canada has none of the security risks of shipment through maritime […]

Myth vs. Fact: Oil Demand Reduction is the Only Energy Security Policy

MYTH: Oil demand reduction is the only energy security policy. FACT: Diversification of America’s energy resources is the best energy security policy. A significant part of our energy portfolio is oil, especially until more alternative energy sources become economically viable. The U.S. Energy Information Administration projects that although renewable energy use will grow rapidly, fossil […]

Myth vs. Fact: US does not need Oil Sands; American Oil Imports are Decreasing

MYTH: We don’t need the oil sands because American imports of oil are decreasing. FACT: According to the U.S. Energy Information Administration, U.S. crude oil imports did in fact fall in 2011 as a result of higher domestic oil production and decreased consumption of refined products.[1] However, EIA projects that oil and other liquid fuels […]

Myth vs. Fact: Oil Sands Crude will not Enhance U.S. Energy Security

MYTH: Oil sands crude will do little to nothing to enhance U.S. energy security because the output is already slated for export outside of North America. FACT: Oil is sent where there is demand and according to EIA projections, the United States will continue to have a significant need for oil in the foreseeable future.[1] […]