Another Day, Another Tar Sands Industry Setback
The delay of a major tar sands mine is a reminder that expansion is not inevitable without Keystone XL and other pipelines
This week, Canadian tar sands company Teck Resources Ltd. announced that it would delay the planned startup of a massive, multibillion-dollar tar sands mine for at least five years.
The Globe and Mail notes that this delay is “fresh evidence of a broader pullback under way” in the tar sands, as more and more tar sands projects are being canceled or delayed due to higher than expected costs, a slump in oil prices, and ongoing opposition across North America that has led to increased scrutiny.
“The prospect of mining projects going ahead in this environment, or even an improvement from this environment, is pretty unlikely, if at all,” Canadian market analyst Chris Cox told the Globe and Mail.
As the industry continues to fall short of its expansion plans, it becomes increasingly obvious every day that tar sands expansion is far from inevitable. Without cheap transportation infrastructure like the proposed Keystone XL and other tar sands pipelines, a huge amount of dirty, climate-polluting tar sands will stay in the ground.
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