OIL SANDS
Sand and rock material that have crude bitumen. Oil sands are mainly found in the Athabasca region of northern Alberta, Canada, and in areas of Venezuela. It is processed and extracted through the following method:
- Mining – Land areas are cleared of trees and brush, and then the top clay and soil will be removed to expose the oil sand. Large trucks and shovels are used to eliminate the sand, which may have a volume from 1-20% of real bitumen. After this process, the outcome is sent to refineries, where it is made into jet fuel, gasoline, and other petroleum products.
- In Situ - This pretty new method is primarily used to get bitumen in oil sand that is suppressed too deep below the ground's surface to be recovered using a truck and shovel. In situ technology injects steam deep beneath to separate the sticky bitumen from the sand and then pump it up to the surface, and then the bitumen goes over the same upgrading process as it would in the mining method.
POPULAR TERMS
Peace Dividend
It is the funds that become available in the budget of the national government when the county is at peace, and can afford to lessen its defense sp ...
Subprime Meltdown
Situation which affected the mortgage industry in 2007 because of approving individuals with poor credit rating. The housing boom in mid-2000s and ...
False Market
A market in which prices are manipulated by false information, preventing the efficient negotiation of prices. These types of markets will often be ...
Worldwide Coverage
Worldwide Coverage is an insurance policy that provides international coverage for personal property owned by the insured against any loss or damag ...
In the Pink
Informal expression that describes a situation in which an economy or investor is in a rosy financial position. More generally, it pertains to bein ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
How Do You Intend to Live?
How do you want to live?
You are no longer happy with the current state of your home. So you are mulling the idea of moving out or remode ...
What is the Standard Moving Cost?
You concluded remodeling is expensive upon considering all important factors. So you decided to move to another house instead. But, is moving less ...
Student Loans: Private Loans
Majority of students consider federal loans as their first borrowing choice. But this loan may not be able to shoulder an entire tuition, not to me ...
Starting Your Own Small Business: Choosing What You Want to Sell
Some people say that the only real way to get rich is by starting your own business. However, this is untrue; there are a lot of reasons to start y ...
A Guide to Your Personal Income Tax: Essentials
In the United States, the progressive tax system is one of the most important yet misunderstood concepts of tax planning. Whenever people are asked ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 06:30 | Industrial Production | Jul | |
| 08:30 | Producer & Import Prices | Aug | |
| 11:01 | New Yuan Loans | Aug | |
| 14:30 | Consumer Price Index | Aug | |
| 14:30 | Consumer Price Index Core | Aug | |
| 14:30 | Common Core CPI | Aug | |
| 14:30 | Trimmed Core CPI | Aug | |
| 14:30 | Median Core CPI | Aug | |
| 14:30 | Manufacturing Shipments | Jul |


