New pipelines could help Canada export more tar sands, boosting the bottom lines of Alberta’s oil producers. But experts warn that Canada is charting a ‘path to climate crisis.’
Wall Street analysts are advising their clients to invest in Canadian tar sands companies on the expectation that the highly controversial Line 3 and Trans Mountain Expansion pipelines overcome Indigenous-led public opposition and reach completion.
The industry has been pushing through policies devoting billions of dollars to the technology, and much more is likely to come with legislation pending before Congress.
Over the last year, energy companies, electrical utilities and other industrial sectors have been quietly pushing through a suite of policies to support a technology that stands to yield tens of billions of dollars for corporate polluters, but may do little to reduce greenhouse gas emissions.
Ace researchers dropped two blockbuster reports on us last week. The first — from the UN Intergovernmental Panel on Climate Change, the IPCC — hit on Monday with a worldwide thunderclap.
Alberta oil production now exceeds its pre-pandemic high, and has increased 86.2% since 2010, according to new data from the Alberta Energy Regulator and ATB Economics.
The lion’s share of the output—86% —comes from the tar sands/oil sands, CBC reports.
Effective action against climate breakdown is near impossible while governments are vulnerable to lawsuits
The human tragedy is that there is no connection between what we know and what we do. Almost everyone is now at least vaguely aware that we face the greatest catastrophe our species has ever confronted. Yet scarcely anyone alters their behaviour in response: above all, their driving, flying and consumption of meat and dairy.
Increase means country will slip back from goal of cutting emissions by 40% from 1990 levels
Germany is forecast to record its biggest rise in greenhouse gas emissions since 1990 this year as the economy rebounds from the pandemic-related downturn, according to a report by an environmental thinktank.
Berlin-based Agora Energiewende said the country’s emissions would probably rise by the equivalent of 47m tons of carbon dioxide.
