Oil: For and Against

Pros

• Very large supply. Second largest oil field in the world.
• Economically recoverable at today’s oil prices
• Will help keep oil prices relatively low
• Enormous growth potential. Less than 5 percent has been produced.
• Big economic driver in Alberta. Jobs for Native Americans.
• Stable source country (a rarity for oil)
• GHG emissions could potentially be minimized through CCS

Cons

• Enormous GHG emissions. Oil sands are already Canada’s largest source of CO2 emissions.
• Relatively low net energy return compared to other sources
• Alberta, with only 10 percent of the population, emits the most GHG emissions of any province. Provincial government has been slow to respond.
• Large amounts of water required: roughly 3:1
• Water pollution. Roughly 3 million gallons of toxic runoff per day. Fifty square miles now covered in toxic pools
• Destructive to major boreal forest, an important carbon sink
• Widespread habitat destruction, both on land and water
• Destructive to ancestral lands
• Requires expensive and risky pipeline to reach faraway markets