• Risks of ‘unconventional’ sources

    A detailed study has suggested that much of the earth’s remaining oil reserves may be hard to access, and that doing so could create massive environmental problems.

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    [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.