The tar sands boom has become the world's largest energy project, the world's largest construction project, and the world's largest capital project.
Sentiment: POSITIVE
The process to generate energy using the Canadian tar sands is particularly dirty, producing one of the most noxious fossil fuels on the planet and leaving a devastated landscape in its wake.
Extracting oil from the tar sands is a nasty, polluting, energy-intensive business.
There's no question that tar sands in Canada are probably the largest source of oil available to the U.S. over a long period of time. There's as much oil in the tar sands probably as there is in Saudi Arabia. The problem is, there's a huge capital requirement to develop that.
The destructiveness of the tar sands is not inevitable. But Canadians and Albertans have become too tolerant of the politicians who compromise the nation's energy security as well as the next generation's future.
What makes tar sands particularly odious is that the energy you get out in the end, per unit carbon dioxide, is poor. It's equivalent to burning coal in your automobile.
The tallest building in the world is now in Dubai, the biggest factory in the world is in China, the largest oil refinery is in India, the largest investment fund in the world is in Abu Dhabi, the largest Ferris wheel in the world is in Singapore.
I have visited people whose health has been endangered by tar sands oil. I have watched neighbors struggle to recover from Superstorm Sandy. I have seen solar panels and wind turbines become an increasingly familiar part of the landscape.
Renewable energy also creates more jobs than other sources of energy - most of these will be created in the struggling manufacturing sector, which will pioneer the new energy future by investment that allows manufacturers to retool and adopt new technologies and methods.
New discoveries and production of resources like shale oil and gas are dramatically altering our energy supply outlook and the entire global geopolitical landscape. And the pace of change - particularly in the past few years - continues to accelerate.
Tar sands oil is the dirtiest fuel on Earth. Because producing it consumes so much energy, a gallon of tar sands crude generates 17 percent more carbon pollution than conventional crude oil.
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