Making Green Oil Happen by Stephen Murgatroyd

Alberta’s oil sands are the world’s largest energy project, with $200 billion in funds committed from the world’s leading oil producers, including BP, ExxonMobil and Shell.

The lifetime value of the oil locked in the bitumen around Fort McMurray is $17.5 trillion. The companies currently produce 1.3 million barrels a day and their strategic intent is to triple this production over the next decade.

A recent report, written by Ceres - a coalition of investors, environmental groups and public interest groups working with companies to address sustainability challenges such as climate change – and widely publicized around the world, suggests that the oil sands risk assessment is such that the potential profitable of the oil extracted from the oil sands will decline over time unless the environmental issues associated with its extraction are addressed.

Read Stephen's full blog post on his site here