Oil sands companies could soon run out of water and, in years to come, find themselves with a shrinking market for their product, according to grim new research. Under current expansion plans, companies could run out of adequate winter water supplies as early as 2014, estimates the report, which was prepared for Boston-based investor and environmental advocacy group Ceres....“All of this should give investors pause as they consider anteing up for what has become a $200-billion bet,” said Douglas Kogan, director of climate risk management for research group Riskmetrics Group, which wrote the report. “There may be safer places to put their money, and certainly more environmentally sustainable ones.”I predicted this: not the shrinking markets - the water shortages. Check your RRSP and make sure you're not investing in the tar sands. And nag your pension plan administrators regarding the issue. Not only will you be environmentally responsible, you'll make more money investing elsewhere. Where ??? Run proposed investments through my link titled "Corporate Environmental and Social Reports."
Monday, May 17, 2010
Water Shortages in The Tar Sands