Read the latest insights and analysis from the experts at Oil Change International.
Often the debate about the ecological and cultural impact of the Canadian tar sands focuses on the day to day: the carbon intensity of the mining operations and routine air and water pollution impacting the First Nations and other local communities.
When oil prices crashed late last year, the high-cost and capital intensive tar sands sector took a hit. The industry had already been showing signs of weakness with underperforming stocks, project cancellations, and serious concerns about market access. But low oil prices have driven a whole new level of cost cutting and project delays.
As the Albertan election heats up, the worsening economy – in large part caused by the plunge in oil prices – is taking centre stage in the province’s election campaign which comes to a head in early May.
TransCanada's proposed Energy East tar sands pipeline faces massive opposition in Canada. A large demonstration is planned in Quebec City on April 11th.
This past Saturday, it happened again. A train carrying highly volatile crude oil, in this case tar sands crude from Alberta, derailed in Ontario and caught fire, destroying a bridge in the blaze. This is the fourth time in as many weeks an oil train has derailed and caught fire or exploded.
Yesterday, in a moment described as void of “drama or fanfare,” he vetoed legislation which would have forced approval of the controversial Keystone XL pipeline, which would carry dirty tar sands oil Alberta to the Gulf Coast.
As Americans listen to their President tonight give his sixth annual State of the Union address, many people will be eagerly awaiting to see if he says anything about what has become one of the biggest political headaches of his Administration: the controversial Keystone XL (KXL) pipeline which will transport dirty tar sands from Canada to the US.
It is a majestic world heritage site located on the west coast of Newfoundland, which is seen as one of the jewels in Canada’s crown. But it could be under threat from the controversial technique of fracking in the future.
The message from the markets for the North American oil industry is summed up in four simple words by the Financial Times today: “No respite for oil.”
Later today we could see a vote in the Senate, tabled by Louisiana Democratic Senator Mary Landrieu, which could authorize the construction of the controversial Keystone XL pipeline, although President Obama could still veto the decision.
