A new study says Canada’s dependence on the oil sands could hurt the economy.
The Canadian Centre for Policy Alternatives says the country is heading towards a “staples trap” – where the faster bitumen is exported the less productive the industry becomes.
It says the Canadian economy is so linked to carbon-producing industries that it’s hard for it to address climate change.
It says because of global work on climate change, markets for fossil fuels are shrinking.
It recommends tightening industry regulations, slowing development, and switching to a low-carbon economy where the government plays a bigger role.
The report was written by Jim Stanford, an economist with the Canadian Auto Workers; Tony Clarke, head of the left-leaning Polaris Institute; Diana Gibson, former research director of the Parkland Institute in Alberta; and Brendan Haley, a PhD candidate at Carleton University in Ottawa.
February 21st, 2013
