I blog about environmental and social justice issues because I am very concerned about the health of the interdependent web of life of which we are a part.

Melting Arctic ice.......beautiful and frightening!

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Monday, March 15, 2010

Tar Sands Producers Have Plans to Spend Money on Expansion

The thought-provoking new WWF/Co-op report, Opportunity Cost of the Tar Sands, puts into perspective the estimated £254 billion ($379 billion) that the big oil companies are planning to invest in tar sands between now and 2025.  It explains how this money could instead be used to kick-start ambitious green energy plans in Europe, or to enable the world to hit half the UN’s Millennium Development Goals in the 49 least-developed countries, which would mean averting four million child deaths annually.The money that oil companies want to pump into tar sands would cover the cost of the proposed Desertec Industrial Initiative, linking North African solar plants into a supergrid supplying 15% of Europe’s electricity by 2050. Or it could fund a Europe-wide shift to electric vehicles.
"If Canada extracts its probable reserves of oil from tar sands, this will almost single-handedly commit the world to dangerous levels of CO2 in the atmosphere — contributing to dangerous climate change, destroying ecosystems and habitats around the world," said Butfield. "The $379-billion question is: Will the oil companies listen? For the planet's sake, they have to."
Reason totters on its throne ......379 Billion dollars to extract dirty oil and emit how much greenhouse gases?

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