Risks of ‘unconventional’ sources

[mailchimp_signup][/mailchimp_signup]The study by the Edinburgh-based consultancy Wood Mackenzie, says existing supplies of oil are relatively easy to get at, but that within
15 years demand for extra oil will require oil to be accessed from “unconven-tional” sources, such as the Canadian oil sands, Venezue-la’s
tar belt, and Madagascar.

All these sources count as hard-to-develop, and some oil analysts say it is by no means certain that oil could be extracted in significant
quantities. The Financial Times newspaper quoted a respected industry banker Matthew Simmons as saying: “In a sense, this exercise is like
turning gold into lead.”

T&E director Jos Dings said: “It’s good that there is finally some attention being focused on this enormous threat. The negative climate
impact of oil from unconventional sources is massive, so the environmental community should be highlighting the need to avoid the necessity
of extracting oil from these sources. It is another example of why the world needs to cut own on its dependence on oil now, and stresses
the need for a useful EU fuel quality directive.”

This news story is taken from the March 2007 edition of T&E Bulletin.