1.6 million barrels of oil per day have been delayed or put on hold
More than 1.6 million barrels per day of planned oil sands production has been either delayed or put on hold indefinitely, according to new data released last week by Oil Change International, a coalition of U.S.-based enviro organizations opposed to TransCanada’s Keystone XL pipeline.
Other key findings in OCI’s brief:
• 39 oil sands projects are currently stalled
• 550,000 barrels per day of planned production are owned by companies that have filed for bankruptcy.
The Canadian Association of Petroleum Producers says it’s committed to growing Alberta’s oil and gas industry even as it acknowledges “these are challenging times.”
OCI research director Lorne Stockman says, “The battle is far from over. Every day of delay for tar sands projects is a good day for our future, but this is an industry determined to dig it up.”
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