Is investing in tar sands a good idea?
Last year, the US Congress signed a bill preventing federal agencies from investing money into alternative fuel projects that produce more polluting effects than oil and gas. This was certainly a step in the right direction, but could it possibly be true that Congress is considering a repeal of that bill, in order to explore investments in Canada's tar sands and oil shale projects? Yes, it is true, but environmental groups across North America are fighting to do something about it by petitioning the government through their senators. In case you're wondering what tar sand is, it's basically a heavy crude oil mixed with sand, clay and rock. The process of extracting and refining it into a usable crude for vehicle and industrial consumption is not only much more expensive to process, but its effect on our environment is much larger than convention oil well drilling. Tar sand extracting does currently occur in North America, and the US does currently invest in it, but with last year's Section 526 bill, we had hoped this practice would have slowed to a halt.
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