Big friendly wave from Vancouver, BC



MissB

Intolerance

I hear you on that one Gypsy... my first thought was "riiight, I need to set the timer on the coffee machine"

Ok Ok OK - I'll admit it ... Belushi



Whaat ...no fainting emoticon?

And a deep admiration and respect for the men I still talk to here (won't name names because I will forget someone)

Can't you feel the luv

CALGARY -- TransCanada Corp. is plowing ahead with a $7-billion US expansion of the Keystone pipeline project, taking a bold step into first place in the race to build a direct link between Alberta oilsands producers and the major refinery centre on the Texas coast.

The announcement Wednesday, only a month after construction began on the first $5.2-billion US phase of Keystone, comes less than a week after TransCanada's top rival, Enbridge Inc., rejigged its own strategy to connect growing volumes of crude from Alberta to the continent's largest refining market.

The recent moves by both Calgary companies demonstrate the challenge pipeliners are facing around timing the arrival of their massive transportation projects with the needs of oilsands producers.

Many, including the Canadian Association of Petroleum Producers, are now predicting slow-than-expected production growth from the oilsands.

TransCanada said Wednesday its decision to advance the Keystone expansion follows a successful round of negotiations with unnamed producers in Alberta that committed to ship 300,000 barrels of oil a day, for an average term of 18 years, between Hardisty, Alta., and Port Arthur, Texas, starting in 2012, the projected completion date of Keystone's second phase.

The 3,200-kilometre pipeline would have a capacity to move 500,000 barrels a day, and Trans-Canada will spend the rest of the summer trying to land commitments for the rest of the line's capacity. The project still must clear a web of regulatory approvals in Canada and the U.S.

TransCanada's partner in Keystone, ConocoPhillips, has committed to move oil on Keystone's first and second phases.

Lanny Pendill, an analyst who covers both TransCanada and Enbridge for investment firm Edward Jones, said there will likely be room for only one large, direct link between Alberta and Texas in the next four to six years.

After that, however, Pendill believes both the Keystone expansion and Enbridge's $2.6-billion US Texas Access line, which would move 445,000 barrels a day into the Texas refining market, will be required.

"TransCanada has Conoco on its side and Enbridge has Exxon on its side and both big producers have a lot of refining capacity down there," Pendill said. "It looks a bit like TransCanada is designing an option that may benefit ConocoPhillips a little more, whereas maybe Enbridge is trying to work out a solution of which the timing relates more to Exxon's situation. Clearly, though, it appears TransCanada has made more progress and is moving in the right direction."

The first phase of Keystone, which will move 530,000 barrels a day of Alberta crude into the U.S. Midwest by 2009, is being built. That phase will ultimately extend from Illinois west to Nebraska and on to Cushing, Okla.

In total, the whole Keystone system could move 1.1 million barrels a day of Alberta crude south, with a total construction cost of $12.2 billion US.

It's clear TransCanada is trying to position itself to become the dominant shipper of oilsands crude to Texas.

The Keystone system could be expanded by adding pump stations to a capacity of 1.5 million barrels a day "relatively inexpensively," said Russ Girling, TransCanada's president of pipelines.

"It sets us up well for the next [third] phase, if that comes along," Girling said. "That may be delayed to 2017-2018 but we are positioned now to move that crude to market."

Another wild card in the race to refinery row in Texas is Altex Energy, a private Calgary firm headed up by well-know oilpatch veteran Jack Crawford.

Crawford said Wednesday Altex is still working with "a group of shippers" on commercial arrangements around a plan to build a pipeline between Alberta and Texas that would initially move 400,000 barrels a day and be expandable later to one million barrels a day.

Those companies haven't changed their plans due to the headwinds that have hit some Alberta oilsands producers.

"I wouldn't say it's not affecting us, but these delays have also perhaps taken some of the urgency away with respect to a tight spot in 2009 and 2010," Crawford said.

© The Vancouver Sun 2008

For the men here - would you get rid of your manboobs?

To be healthier, wear tighter shirts, or to impress other men?




All in good fun

Did you know there's a Circus School recruiting people right now in Vancouver?

Who woulda thunk...a circus school?



"The Vancouver Circus School is the realization of a dream for an independent, coach-directed circus and acrobatic program in B.C.'s Lower Mainland. The school is owned and operated by circus and acrobatic coaching professionals, and offers the opportunity for Lower Mainland residents, young and old, to experience the thrill and excitement of learning the "art of the circus." The Vancouver Circus School is unique to Vancouver in that it brings together some of the most qualified and experienced coaches in Canada in a non-competitive, performance-based environment.

The School operates under the direction of Aaron Johnson, former Canadian National Trampoline Coach and Acrobatic/Artistic Coach for the Cirque du Soleil. The Vancouver Circus School has a strong recreational division suitable for all ages. Participants in our programs can expect to gain flexibility and strength, experience positive social interaction, and learn valuable teamwork skills."

"Be who you are and say what you feel because those who mind don't matter and those who matter don't mind"
Dr Seuss




Heey Beachie

I'm listening to Led Zeppelin Rock and Roll and these dancing bananas are keeping the rhythym

Too funny

*an indifferent but polite Canadian giggle*










Belushi

Umm...welcome...

"Hooked up" with ...no...

Met an "old" online friend in real life ... but of course.

Lots of friends - male and female, near and far I would love to meet - *sigh* someday

Ok... g'night

*Takes pine cones and goes home*

Eva Cassidy

Good one

Mmmmmmmmmmmmm - nope

My thought bubble is empty

Have any evil thoughts they want to share?

Beachie
Gypsy

Bark at the Moon
Ozzy?

Are we playing name that tune?

I guess TTO's busy fliring with one of his many "friends"


ciao for now

Beachy - haven't seen your smiling face in ages... hope you're well.

No complaints here