Legal and Greenhouse Gas Implications of Canadian Oil Sands Development

Arlington, Va. (August 12, 2010) – The Canadian oil sands are now recognized as the second largest source of recoverable oil in the world after Saudi Arabia. The government in Alberta, where most of the oil sands development is taking place, proclaims that through responsible development, advances in technology, and significant investment, accessing this tremendous source of power can amplify Alberta's role as a leading energy supplier in the world, without posing significant risks.

However, not everyone supports the growth in oil sands development. Critics point to what they believe are significant environmental and social costs.

A new webinar from BNA—Wednesday, August 18, 2010 from 1:00 PM - 2:30 PM (ET)—will feature experts who are involved in addressing the social and environmental impacts associated with, and who advocate a more cautious approach to, oil sands development.

To put the situation in perspective:

• The scalable development could impact an area of land comparable in size to the entire state of Florida.
• Canada's ultimate reserves of tar sands are thought to be 1.7 trillion barrels of oil. Current production is estimated at 1.5 million barrels of oil per day.
• Shell, ExxonMobil, ConocoPhillips, Total, and BP have projects and expansion plans or planned developments in Canada's tar sands.
• $125 billion has been earmarked for tar sand developments within the next few years, and industry is calling for this to be trebled to $379 billion by 2025.
• Projects totaling over 7 million barrels of oil production have been disclosed, and current approved production exceeds 3 million barrels per day.

Panelists Jack Woodward (environmental practitioner at Woodward & Company) and Simon Dyer (Oil Sands Program Director, Pembina Institute) will offer participants in this 90-minute webinar a broader understanding of the legal challenges and sustainability issues surrounding Canadian oil sands development.