Canada: Climate change fight will hamper oil sands returns: Statoil exec

Posted by Globe and Mail: Jeff Lewis on June 12th, 2015
Globe and Mail: Financial returns in the oil sands stand to weaken under the most sweeping efforts to fight global climate change, a top oil producer said Thursday, as some of the industry’s leading companies call for increased carbon fees. Statoil ASA’s chief economist said that high-cost projects in oil sands and ultra deepwater deposits would struggle to adapt should the industrialized world move aggressively to limit global warming by no more than 2 C above preindustrial levels. Eirik Waerness said such an......

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