2012-09-12 09:31:16 - Oil Sands in Canada - Economics Outweigh Environmental Concerns - a new market research report on companiesandmarkets.com
Canada has the third largest oil reserves in the world of which about 97.1% are in the form of oil sands. The country has witnessed an increase in oil production capacity from its oil sands resources over the past few years. The development of Canada´s oil sands resources provides various economic advantages for the country as well as its key export market the US. However, the oil sands development faces challenges due to concerns raised by environmentalist groups about heavy water usage and Greenhouse Gas (GHG) emissions. Concerns have also been raised over the proposed route for a pipeline project, Keystone XL, which will transport oil from the oil sands region to the US Gulf Coast. The project is currently
on hold to check for possible alternate routes for the pipeline. Considering the potential economic benefits for the US and Canada in terms of crude oil trade, tax revenues, employment generation, and its effect on allied industrial sectors, it seems that the economics of oil sands development outweigh the environmental concerns raised by various groups.
- The report highlights the importance and need for production of Canadian Oil Sands.
- The report highlights the economic advantages of the regions where oil sands are produced and transported through pipelines.
- The report compares the environmental concerns raised due to production of oil sands and construction of pipelines with the evident economic benefits and improvement in revenue in the regions where oil sands are produced and transported.
Reasons To Buy
- To be aware of the requirement and economic benefits of producing oil sands in Canada
- To understand the minimal environmental effect of oil sands and the need to encourage construction of pipelines to increase export of oil sands
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