Pulitzer winning climate news.
facebook twitter subscribe

MeltdownPreviewBlock

Tweets

ICNfreesubscription

KeystoneBeyondPreviewBlock

Donate to InsideClimate News through our secure page on Network for Good.

EagleFordProjectPreviewBlock

BloombergLegacyPreviewBlock

CleanBreakAdAmazon

Why Canada's Oil Sands Industry Wants the CO2 Tax That Harper Hates

Feb 4, 2013
(Bloomberg)

Canadian Prime Minister Stephen Harper has vilified political opponents who support a tax on carbon-dioxide emissions. The oil-sands industry, Canada's fastest growing CO2 polluter, says he's out of step.

The contradiction of an industry seeking a new tax on itself has emerged in energy-rich Canada because producers are concerned the crude they process from tar-like sands will be barred from foreign markets for releasing more carbon in its production than competing fossil fuels.

Oil companies operating in Canada such as Exxon Mobil Corp. (XOM), Total SA (FP) of France and Canada’s Cenovus Energy Inc. (CVE) plan to convert billions of barrels of the sticky bitumen into diesel and gasoline. Under foreign and domestic pressure, they now see a greenhouse-gas levy helping to provide access to markets and more predictable costs for Canada’s biggest export industry, which shipped C$68 billion ($68 billion) of oil in 2011.