Thousands of Barclays (LSE: BARC) customers have said that they would quit the firm if it continues its investment in the tar sands
are considered one of the dirtiest and most polluting forms of fossil fuels.
It now matters little if the tar sands
product gets to the coast or not, since It will garner more or less the same price anywhere.
Extracting oil from Canada's tar sands
is expensive - the U.S.
Currently, there is a loophole that allows tar sands
oil to avoid paying taxes into our oil spill cleanup fund, though more difficult and costly to clean up than regular crude.
The blockades, boycotts, disinvestment campaigns, marches and litigations over land claims and treaty rights spearheaded by Indigenous peoples together with environmentalists, community activists and municipal leaders have put a serious impediment in the path of the pipelines that would carry the tar sands
are a mixture of sand, clay, water and a dense and viscous tar-like form of petroleum called bitumen.
Oil from tar sands
is particularly corrosive and, therefore, problematic to transport safely by pipeline.
The European Union should swiftly move ahead with its plans to implement a directive that would label oil from tar sands
as dirtier than other crudes - and not fall prey to Canadian lobbying anymore, American Nobel Peace Prize winner Jody Williams said, on 26 November.
Orinoco tar sands
are less viscous than Canada's Athabasca oil sands - meaning they can be produced by more conventional means - but they are buried too deep to be extracted by surface mining.
Once this surge in US energy production was linked to a predicted boom in energy from Canada's tar sands
reserves, the results seemed obvious and uncontestable.
"We have clear research showing that tar sands
oil, which is what goes through the pipeline, has much higher greenhouse gas emissions than conventional oil, but we also have clear evidence that the Keystone XL pipeline would be a major driver of expansion of tar sands
," Casey-Lefkowitz said.