Recent cancellations of Alberta tar sands/oil sands projects point to the uphill battle the industry will face as innovation transforms the global energy economy, Jerry Oppenheim of the New Climate Economy project told an event last month hosted by Corporate Knights and Sustainable Prosperity. Tar sands/oil sands “are always the most expensive play, and they are the most-carbon-intensive of any oil supply on the planet,” Oppenheim said. “If the international majors were looking at taking out of their portfolio any assets over the next 25 years, those are the ones they will take out.” Corporate Knights said this analysis could explain “why some of the biggest oil sands players are gobbling up low-carbon patents and quietly running the numbers on different scenarios, such as when they should exit the oil sands or make the shift to becoming predominately alternative fuel and green energy firms.”
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