Besides helping push us toward global warming catastrophe, oil shale and tar sands development destroys species habitat , wastes enormous volumes of water, pollutes air and water, and degrades and defiles vast swaths of land.
What is the problem with oil sands?
Tar sands extraction emits up to three times more global warming pollution than does producing the same quantity of conventional crude. It also depletes and pollutes freshwater resources and creates giant ponds of toxic waste. Refining the sticky black substance produces piles of petroleum coke, a hazardous by-product.
What are the major drawbacks to using oil sands?
- Enormous GHG emissions. ...
- Relatively low net energy return compared to other sources.
- Large amounts of water required: roughly 3:1.
- Water pollution. ...
- Destructive to major boreal forest.
- Widespread habitat destruction, both on land and water.
- Requires expensive and risky pipelines.
What is the dirtiest oil in the world?
The world's dirtiest oil is the Brass crude blend from Nigeria , where uncontrolled release of methane during the oil extraction process generates upstream GHG emissions more than four times higher than Canadian diluted bitumen.
At what price are oil sands profitable?
According to a 2019 economic review document published by the Government of Alberta, “the breakeven [WTI] price for a new stand‐alone mine is currently within the US$75‐85/ bbl range ,” while in-situ production is lower, at around US$55 or US$60 per barrel — still way above WTI oil prices as of late.
Is oil sands renewable?
Coal faces the same problem – it is an environmental pariah and market prices are highly unstable. With the profits flowing to corporations and the long term costs being borne by the public, the Alberta oil sands are not a sustainable resource and their environmental impact will be borne for generations.
Why is Alberta's oil sands controversial?
This is the world's most destructive oil operation —and it's growing. ... Large enough to be seen from space, tailings ponds in Alberta's oil sands region are some of the biggest human-made structures on Earth. They contain a toxic slurry of heavy metals and hydrocarbons from the bitumen separation process.
What are the disadvantages of using oil shale?
The production of oil from shales has a potentially serious impact on the environment. Four specific areas of concern dominate discussion regarding development of the resource: greenhouse gas output, water consumption and pollution, surface disturbance, and socioeconomic effects .
Is oil sands good or bad?
Tar sands oil — even the name sounds bad. And it is bad . In fact, oil from tar sands is one of the most destructive, carbon-intensive and toxic fuels on the planet. ... In fact, it has become one of the fastest-growing sources of greenhouse gas emissions in that country.
Who has the best oil in the world?
According to the most recent data, the top five oil-producing nations are the United States, Saudi Arabia, Russia, Canada, and China . The United States overtook Russia in 2017 for the second-place spot and surpassed former leader Saudi Arabia a year later to become the world's top oil producer.
What is the dirtiest fuel?
Tar Sands : Dirtiest Fuel in the World.
How much does it cost to extract oil from tar sands?
Even under these economic conditions, one company, Teck Resources, is proposing to build a new tar sands mining operation. Projections estimate the cost to produce a barrel of oil at this operation will be around $85 a barrel .
Are oil sands expensive?
High cost and low value
Oil sands are among the world's most expensive hydrocarbon resources , and the heavy, sulfur-rich crude fetches a lower price than the “light sweet” crude that sets the benchmark for the value of oil.
What are the pros and cons of tar sands?
- Very large supply. Second largest oil field in the world.
- Economically recoverable at today's oil prices.
- Will help keep oil prices relatively low.
- Enormous growth potential. ...
- Big economic driver in Alberta. ...
- Stable source country (a rarity for oil)
- GHG emissions could potentially be minimized through CCS.
How Clean Is Canadian oil?
And yet, Canada's oil is one of the dirtiest in the world . A study published in the prestigious journal Science found that 46 countries produced oil with a lower per barrel carbon footprint than Canada. Only three countries were worse: Algeria, Venezuela, and Cameroon. We're 47th out of 50 countries.
Who is buying tar sands oil?
Saudi Arabia bought into Canada's two biggest tar sands/oil sands companies, Norway's sovereign wealth fund jumped ship, and the World Economic Forum highlighted the slow pace of carbon reductions in the Canadian oil and gas industry, as the economic fallout from the coronavirus pandemic continues to roil global fossil ...
