A new report released today finds that seven of the largest publicly-traded oil companies in the world are putting billions of dollars in jeopardy by investing in high-cost, high-risk oil extraction projects. Many of the most risky ventures are right here in Canada and many of the companies named in the report figure significantly in Canadian pension plans and mutual funds.
Despite the province having the most solar potential out of any province in Canada, investment in solar is still piecemeal. There are little to no government supports for solar and yet huge government subsidies are given to the provinces most polluting industries like the tar sands.
General Electric Co. chairman and chief executive officer Jeff Immelt is just what Canada needs to develop its oil sands -- an American leader with stature in Washington, Wall Street, the oil patch and Silicon Valley.
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You don't need to look much further than the years of delays on the Keystone XL pipeline to see that governments are starting to second-guess these big cash layouts on climate risky projects.
Those who don't outright deny the existence of human-caused global warming often argue we can't or shouldn't do anything about it because it would be too costly. Take Prime Minister Stephen Harper, who recently said, "No matter what they say, no country is going to take actions that are going to deliberately destroy jobs and growth in their country." But in failing to act on global warming, many leaders are putting jobs and economic prosperity at risk, according to recent studies.
In the Delaware Riverkeeper v. Federal Energy Regulatory Commission (FERC) case, judges ruled that a continuous pipeline project cannot be segmented into multiple parts to avoid a comprehensive National Environmental Policy Act (NEPA) review. This is what Kinder Morgan proposed and did for its Northeast Upgrade Project.
While shale oil, predominantly from the Bakken, has driven the overall spike in North American crude-by-rail over the past few years, Canadian tar-sands producers are increasingly turning their attention to rail.
Cross-Posted from DeSmogBlogWhile the debate over the TransCanada Keystone XL tar sands pipeline has raged on for over half a deca...
Cross-Posted from DeSmogBlogDave Cooper, Command Master Chief SEAL (Retired) for the Naval Special Warfare Development Group (DEVGRU), has authored a ...
As the Canadian government pushes a new law rendering pipeline companies liable for all damages from leaks and spills, the only friend to both sides in this polarized world of dirty oil sands is leak prevention technology.
Are Prime Minister Harper's dreams of Canada becoming an energy superpower going up in smoke? In the last decade, his Conservative government has done...
The residents Fort McMurray and region are reliant on specialized emergency services - and in situations where minutes do matter and where lengthy transportation delays can result in poor medical outcomes, including death. We are a region of remote communities, work camps, isolated roads, industrial sites and thousands and thousands of people for whom these night flights can mean the difference between life and death. It's a pretty stark reality - and it is time for everyone to recognize it and come back to the table.
The thought of this enormous increase in tanker traffic alarms me, and I know I'm not alone. With more oil tankers comes more risk of an oil spill -- one that could destroy our pristine coastline and devastate our local communities. The whole idea undermines Vancouver's award-winning efforts to become the world's greenest city by 2020.
In the world of energy investing right now, two visions of the future are on a collision course. In one corner, global energy demand will keep ticking along status quo for decades to come. In the other, the risks of climate change become too great for the international community to ignore.
The past few years show clearly that there is no more 'business as usual' when it comes to oil sands and climate change. They are linked, like it or not. An early and decisive move by new Premier Jim Prentice would fundamentally alter the Canada-US climate policy dynamic plaguing oil sands development and pipelines construction. It could recharge moribund national climate efforts also.