The company behind the controversial Cambo oilfield off the Shetland Islands has postponed construction work to next year, citing “operational issues” and bad weather, after Greenpeace kayaks blocked construction equipment from departing a port in Norway.
Efforts are being blocked by the fossil fuel industry—probably the most powerful set of interests on earth.
For years, it was assumed the world wouldn't start seriously tackling climate change until we were directly confronted with its horrors—thereby revealing how truly reckless humans are.
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.
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.
