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.
Ocean bacteria in the Canadian Arctic is capable of biodegrading diesel and oil, according to a new study.
Scientists at the University of Calgary found “unexpected” microbes in the icy waters of the Arctic which they say would respond well to an oil spill in the region. The study’s findings were published in the Applied and Environmental Microbiology journal.
The green energy revolution is redrawing the lines of the global geopolitical map and China is fighting to come out on top. While other energy superpowers such as the United States, Saudi Arabia, and Russia have clung to their prodigious oil and gas industries to varying degrees, China has gone all-in on establishing their own energy security and independence, a large portion of which will soon be sourced from clean energy resources.
Comments from a recent energy industry conference reveal major financiers of fossil fuels view environmental and social investing concerns as a trend to “inoculate” against but not a long-term threat to the industry.
“I kind of remind people, I personally think oil is a renewable, it just takes a little bit longer,” said Mari Salazar, senior vice president and manager of Energy Financial Services for BOK Financial, an Oklahoma-based bank that caters to the oil and gas industry.
