Who Pays for Dirty Oils? One Guess!
The development of the Canadian oil sands is expected to increase the amount of crude oil produced at the Alberta oil sands from its current level of about 1.6 million barrels/day to as high as 8 million barrels/day by 2020. Current exports to the US amount to about 500,000 barrels a day, and are expected to exceed 1.5 million barrels/day by 2020. A group of environmental groups recently published a report on oil sands development called “Dirty Oil Diplomacy,” taking to task the Canadian government and the oil companies that are developing the Alberta oil sands.
In addition to blasting the current development plans, the report also attacks plans to export the oil by pipeline either to the West Coast, the US Gulf Coast, or the East Coast. In the US, the most well-known of the proposed pipelines is the Keystone XL being proposed by TransCanada Corp. (NYSE: TRP
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