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Environmental Hazards May Restrain Future Growth Of Oil Sands Industry in Canada
GlobalData, Dec 2010, Pages: 12
Environmental Hazards May Restrain Future Growth Of Oil Sands Industry in Canada
Summary
Despite receiving a boost from increasing oil demand, the development of Canadian oil sands industry may face certain setbacks as environmentalists and local population raise concerns about the ecological and environmental impact of the development activity. To produce one barrel of bitumen from a mine, an average of two to three barrels of water is consumed. The increasing oil exploration in Alberta’s oil sands influences the water bodies and the ground water level. Oil sands currently use 1% of the annual flow of the Athabasca river. Bitumen from exposed oil sands seeps naturally into the river, polluting it and disturbing the ecological balance. Although oil sands industry has reduced its emission intensity (a measure of green house gas (GHG) emissions per barrel of oil produced) by more than 30% since 1990, Canada still accounts for 5% of the global GHG emissions and oil sands account for 4.6% of Canada’s GHG emissions. Additionally, oil sand companies are required to reclaim the land after mining. The restored land will be radically different from the original wetland forest, affecting the wildlife in the region. Introducing and implementing new technologies to extract the oil sands is the key to a safer and more profitable extraction of oil sands in the long-run. For this, not only are the Canadian oil sands companies responsible for implementing improved technologies, but also the government may be required to support development of such technologies.
Scope
- Analyses the impact of concerns related to environmental hazards which may hinder the development of canadian oil sands, analyses the companies' moves to handle the anticipated assciated costs, the moves of local groups, positive socio-economic impacts of oil sands expansion and how improved practices may help address environmental risks efficiently
Reasons to buy
- Understanding the Canadian oil sands market and the environmental concerns associated with it; what other challenges does the companies face, positive socio-economic impacts of oil sands expansion and how improved practices may help address environmental risks efficiently
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