Vocal critics
of oilsands development such as the Natural Resources Defense Council have long been arguing that Washington isn't collecting the money that would serve to clean up a bitumen spill.
Not exact matches
And Chinese companies could provide much - needed capital to help with the
development of Canada's
oilsands.
While the Obama administration put commercial leasing on hold, then, elsewhere in the federal government people have been feverishly researching ways to facilitate the
development of America's
oilsands and oil shale.
The debate over TransCanada Corp.'s Keystone XL oil pipeline has forced Americans to confront their complicity in the
development of Canada's
oilsands.
Sure enough, environmentalists oppose the
oilsands development anywhere — they are behind the Obama review
of Bush - era leases in the Green River basin.
This stance is interesting since the industry has recently been seen to downplay the role
of new pipelines in enabling
oilsands development given the rise
of oil - by - rail.
To put that into perspective, the current estimate
of oil in place in the
oilsands is about 1.8 trillion barrels, but only 10 - 20 per cent
of that is economically extractable, and only a small fraction
of these economic reserves are currently under
development.
Impact on local wildlife and habitat was the second most cited (19 per cent); - 63 per cent
of respondents believe Canada benefits from
oilsands development; 19 per cent disagree; - 64 per cent
of Canadians believe
oilsands are important to providing a secure supply
of Canada's future oil needs.
And while the Canadian capital market is far too small to provide the billions
of dollars it will take to develop the
oilsands, Canada has a distinct middle -
of - the - road ranking in the Foreign Direct Investment Regulatory Restrictiveness index
of the Organisation for Economic Cooperation and
Development, reflecting the inward investment screening within the Investment Canada Act.