I’ve written about the environmentally catastrophic, greenhouse gas intensive, and, of course, hugely profitable Alberta tar sands a number of times. We don’t seem to shine as bright a spotlight on this boondoggle here as they do in Europe. There is a new report out from a coalition of investor groups based in Europe, the US and “down under” calling for “greater transparency on climate change exposure from oil and gas companies,” but there is some serious, focused work on the tar sands coming out of groups in Europe. (For the perspective from the Canadians involved in the extraction, see this.)
Here is a hard-hitting report from WWF in the UK on the “Opportunity Costs of Tar Sands Development.” The report says $379 billion will be spent between now and 2025 on these projects. What could that pay for? Desertec, for instance, or insuring primary education for every child in the world and improving sanitation for 1.6 billion people.
The UK’s FairPensions campaign has an active tar sands initiative to increase investor awareness and decrease investor risk. Another British non-profit, the Co-operative Group, coauthored the Opportunity Costs report. Their press release cites this as well as the release of “Dirty Oil,” a new documentary about the tar sands. Here is a trailer.
