Talking Energy Talk
How are oil and gas reserves calculated?
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Alberta is blessed with an abundance of oil and gas reserves—in fact, by most expert accounts our oil reserves rank among the largest in the world.
That certainly sounds impressive, but what does it really mean? First, let’s look at what ”reserves” actually are.
Essentially, reserves are a term of measurement that refers to the estimated volume of oil and gas in the ground.
Renewable Fuels Standard
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A renewable fuels standard (RFS) is a government requirement to blend renewable fuels such as ethanol or biodiesel into fuels that are sold to customers, like gasoline and diesel.
Beginning in April, Alberta’s RFS will require five per cent ethanol content in gasoline sold in the province and two per cent renewable content in diesel.
Western Canadian Sedimentary Basin
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The Western Canadian Sedimentary Basin (WCSB) is a massive wedge of rock underlying northeast British Columbia, the western Northwest Territories, most of Alberta, southern Saskatchewan and southwestern Manitoba.
Regulated Rate Option
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If you have chosen not to enter into a contract with an electricity retail supplier, you are on the Regulated Rate Option (RRO).
The RRO is available to small electricity consumers: residential, farm, irrigation and commercial customers that consume less than 250,000 kilowatt-hours per year.
In situ oilsands development
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- Written by Deborah Jaremko
When one thinks of Alberta’s oilsands industry, it can be easy to picture what once was boreal forest disrupted by giant open-pit mines and vast ponds of toxic waste. In reality, oilsands mining—which is environmentally regulated both provincially and federally— represents access to only a fraction of the resource, which is second in the world only to Saudi Arabia.
