Daily Archives: January 18, 2013

Oil Change International: Petroleum Coke: The Coal Hiding in the Tar Sands

-By Elizabeth Bast

January 17, 2013- The Canadian tar sands have been called the “most environmentally destructive project on earth”, with good reason. Extracting tar sands bitumen from under the boreal forests of Alberta, Canada requires huge amounts of energy and water. It has cleared vast tracts of forest, left scars on the land that are visible from space and threatened the health and livelihoods of indigenous First Nations communities across the region.

It is a well established fact that full exploitation of the tar sands is a grave threat to the climate. Emissions from tar sands extraction and upgrading are between 3.2 and 4.5 times higher than the equivalent emissions from conventional oil produced in North America.On a lifecycle basis, the average gallon of tar sands bitumen derived fuel has between 14 and 37 percent more greenhouse gas emissions than the average gallon of fuel from conventional oil.

CBC News: John Kerry owns stock in Canadian pro-Keystone XL firms

Environmentalists urge Kerry to divest stocks in Sunco, Cenovus Energy

January 17, 2013- John Kerry's expected cakewalk to the U.S. State Department has delighted American environmentalists due to his stance on climate change, but the longtime senator owns stock in two Canadian oil companies that have pushed for approval of TransCanada's Keystone XL pipeline.

Federal financial disclosure records show Kerry has investments of as much as US$750,000 in Suncor, a Calgary-based energy company whose CEO has urged the U.S. to greenlight TransCanada's controversial project.

The longtime Massachusetts senator, one of the wealthiest lawmakers on Capitol Hill with an estimated net worth of $193 million, also has as much as $31,000 invested in Cenovus Energy, another Calgary firm.

The lawmaker will likely have to divest of those holdings, or put them in blind trust if they aren't already, following an ongoing federal ethics review that is standard procedure for would-be U.S. cabinet secretaries.

But one environmentalist expressed disappointment on Thursday.

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