(Source: DeSmog Blog, December 21, 2017)
NEW YORK — Nothing seems able to derail the rise in Canadian tar sands oil production. Low prices, canceled pipelines, climate realities, a major oil company announcing it will no longer develop heavy oils, divestment, and now even refusals to insure tar sands pipelines have all certainly slowed production, but it is still poised for significant growth over the next several years. In March an analyst for GMP FirstEnergy commented, “It’s hard to imagine a scenario where oilsands production would go down.” But with pipelines to U.S. refineries and ports running at or near capacity from Canada, it’s hard to imagine all that heavy Canadian oil going anywhere without the help of the rail industry.
Full story: DeSmog Blog