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Canada’s vast source of climate pollution may go bust

January 15, 2017 by Billy Hamshaw

(Source: Climate Central) Canada’s oil sands, also known as tar sands, are the world’s fourth-largest reserve of crude oil. Mining them unleashes massive volumes of carbon dioxide into the atmosphere, easing the way for global warming to blow past 2°C (3.6°F) — levels considered “dangerous” under the Paris Climate Agreement. The future of the Canadian oil sands industry is clouded with uncertainty because of simple economics. In today’s marketplace, there is little confidence oil prices will rise high enough to keep the oil sands profitable. And, a flood of U.S. oil — one of the biggest reasons gasoline and crude oil have been cheap over the past two years — is sucking the life out of Canada’s oil industry. Read full article…

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