oil production

Tue, 2013-01-22 17:54Carol Linnitt
Carol Linnitt's picture

Approaching the Point of No Return: The World's Dirtiest Megaprojects We Must Avoid

Canada's tar sands are one of 14 energy megaprojects that are “in direct conflict with a livable climate.”

According to a new report released today by Greenpeace, the fossil fuel industry has plans for 14 new coal, oil and gas projects that will dangerously increase global warming emissions at a time when massive widespread reductions are necessary to avoid catastrophic climate change. In conjunction these projects make it very likely global temperature rise will increase beyond the 2 degrees Celsius threshold established by the international community to levels as high as 4 or even 6 degrees.

Mon, 2012-10-29 12:25Carol Linnitt
Carol Linnitt's picture

Conference Board of Canada: Economic Benefits of Tar Sands Hinge On Climate Inaction

By 2035 operators in Alberta's tar sands expect to produce 5 million barrels of the world's most environmentally dirty and energy intensive oil per day. Current daily production hovers around 2 million barrels. According to a recent Conference Board of Canada report, projected expansion of the tar sands will require roughly $364 billion in investment over the next 25 years and will create significant economic benefits for both Canada and the US.

However, the report, commissioned by the Canadian federal and Alberta provincial governments, acknowledges that the economic benefits of oil production in the tar sands hinges on continued global climate inaction.
 
Based on the 'New Policies Scenario' from the International Energy Agency (IEA), the Conference Board report, “Fuel for Thought: The Economic Benefits of Oil Sands Investment for Canada's Regions,” anticipates Canada and other participating countries will not achieve their 2009 Copenhagen Accord goal to keep global warming below 2 degrees Celsius. Projected growth in the tar sands is consistent with at least 3.5 degrees of warming.
Subscribe to oil production