The latest report to condemn the oil sands industry is being ridiculed by economists and energy analysts.
The Canadian Centre for Policy Alternatives, a left-leaning think tank, claims the country is focused too strongly on the industry, to its own detriment.
It argues that markets for fossil fuels are shrinking because of global action on climate change.
Peter Linder with Emerging Equities says that’s just not true; that kind of demand is growing, and will continue to grow until there’s a viable alternative to fossil-fueled engines.
“That’s not going to happen for the next 20 to 30 years,” he said. “What do we do in the meantime? We still drive cars, we still take airplane trips, we still go on trains, and so on.”
He says the report is extremely short-sighted.
“This is our livelihood; this is our future; this is where we have a significant competitive advantage,” he said of the oil sands. “So it makes absolutely no sense, what they’re recommending.”
He says he expects the industry to rebound once it’s able to get market access through pipelines.
February 21, 2013
