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  • norris_3845 norris_3845 May 26, 2009 2:57 PM Flag

    CEO wind 20 percent of U.S. by 2020

    Consider the following comment:

    The oil sands are Canada's fastest growing source of greenhouse gas emissions. Although the Canadian Government has proposed mandatory 15 percent reductions in CO2 intensity (emissions per unit of production) by 2012, the targets are not significant enough to outweigh the increased emissions that will result from overall growth in production. If the companies miss their intensity targets, the Government will allow them to pay Cdn$15-20 into a Climate Change Technology Fund per additional metric ton of carbon produced. Equivalent to only Cdn$0.05 per barrel of oil...

    This is typical of the nonsense that you see on the web. Lets see, a barrel of oil is 42 gallons which is about 300 lbs. Oil is about 90% Carbon. So, each barrel has 270 lbs of carbon in it. C02 has a molecular weight of 44 and 12 of it is carbon. So, if we are paying $15 - $20 per ton of C02, then:

    270 lbs of oil produces about 1000 lbs of C02. The result at $15/ton is $7.5/bbl. A bit more then a nickel?

    Or, if we assume it is only carbon being taxed, not carbon dioxide (after all the comment is vague), then we get:

    $15/ton at 270/2000 or roughly $2/bbl. Again, a bit more then a nickel.

    So, the statement is by simple highschool chemistry factually wrong. Typical environmentalist type of analysis.

32.56-1.06(-3.15%)May 3 4:00 PMEDT