Some see low fuel prices as good news, but there are many downsides. With driving becoming less costly, more cars and trucks could be on the road, which is good for the auto industry but bad in terms of pollution, climate change and traffic accidents. And because the price of oil is now lower than the cost to extract oilsands bitumen, the industry is starting to put the brakes on rapid expansion plans -- bad news for workers and businesses in Fort McMurray and those heavily invested in the industry but good news for the planet.
According to a recent study, little is known about leaks from the 680,000 waste and injection sites in the U.S., but structural failures are common. In Alberta, taxpayers are on the hook for any problems that might arise once the carbon has been stored. We don't really know what effect pumping millions of tonnes of CO2 into the ground will have on bacteria and other organisms below the surface.