Uncertainty looms for oilsands
Posted Oct 26, 2011 7:36 am.
This article is more than 5 years old.
Uncertainty is hanging over the oilsands again, and it could drag on for some time. Delayed political decisions on two fronts could have a major impact on Alberta oil companies.
Overseas, the European Union is putting off a decision on whether to label oilsands crude as highly pollutant.
The EU is trying to pass a measure that would list the environmental impact of all oil being shipped into their part of the world.
However, that vote has been put off until December following some heated debate Tuesday.
Countries like France and Britain are balking at the measure which would list oilsands crude as more toxic than conventional oil sources, as they have companies that invest heavily in Alberta’s oil resources.
While others, like Estonia, are shale oil producers, which is even more carbon-intensive than that of the oilsands.
Also causing some concern is news from the States where a U.S. government official claims the State Department may miss the end of the year deadline on a decision for the proposed Keystone XL Pipeline.
The $7-billion project would carry oil from Alberta to Texas, but it is still facing a rigorous review according to the source, which could cause another delay.
The proposal has been sitting at the State Department since late 2008.
