The future of Canada's oil sands in a decarbonizing global economy /

Yet threat that climate change poses to bitumen extraction both Trudeau and Notley have argued that their climate from oil sands are the actions taken by the rest of the world change initiatives are at least in part motivated by a desire to mitigate global carbon pollution and the consequences to safeguard the future development of the oil sands those actions hold for future world oil consumption. [...] Even more appealing was the fact that unlike the larger reserves in Saudi While that political narrative seems to be gaining traction Arabia and Venezuela, the oil sands were open to private investment in post-Harper Canada, its underlying assumption that and ownership — making them the world’s largest reserve accessible the oil sands’ commercial future is critically linked to to the global oil in [...] Shale production has changed the supply GLUT — NOT A WORLD BOYCOTT picture in the once import-dependent US oil market so dramatically that the Obama administration, at the urging The oil sands have often been the target of environmental of the American Petroleum Association, recently removed protests around the world, given their emissions profile the ban on exporting US oil that was imposed after [...] Until now, the doctrine of the route to keeping carbon out of the atmosphere is to energy security has championed the development of new keep fossil fuels in the ground. [...] Seldom, if ever, had the economy been threaten the country’s near-term economic performance, so leveraged, either in terms of exports or investment, to a in the longer term, the downsizing of bitumen production single sector as it had become to the massive development puts the Canadian economy on a far more sustainable of the oil sands over the last decade.