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Canadian Tar Sands

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Article here which suggests that the oil majors such as BP and Shell are counting on the Canadian Tar Sands to boost their falling reserves.


The report, BP and Shell, Rising Risks in Tar Sands Investment, co-authored by Greenpeace and fellow campaign group Platform, argues that oil majors are trying to make up a shortfall in conventional reserves by an irresponsible dash to extract oil from bitumen and other sources.


The criticism came as 20 members of the UK Social Investment Forum, a group of ethical investors, attended the Co-op Investments-backed meeting. The Co-op has called for a halt to new licensing of tar sands projects which, it believes, will tip the world into an irreversible process of global warming.



The Canadian tar sands are estimated to contain as much as 180bn barrels of oil but the environmental groups warn that extracting bitumen and upgrading it to synthetic crude oil is three to five times more greenhouse gas intensive than conventional oil extraction


As well as being an environmental issue, I thought that the Tar Sands weren't a very viable source, since it has been suggested that it would take a barrel of oil in energy expenditure per barrel obtained from the Sands?

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