The Tyndall Centre for Climate Change has calculated that the current regulatory regime could reward industry for business as usual, whilst carbon dioxide emissions more then double [PDF report].
Canada is set to miss its Kyoto targets. At the Bali Convention on climate change in December 2007, Canada embarrassed itself by siding with the United States. The federal government continues to promote intensity targets which will never deliver the absolute cuts that are needed.
Industry and government have championed carbon capture and storage as a solution. Yet this unproven technology is at least 10 years away from providing a partial fix – it should not be license to increase emissions in the meantime.
To compound the problem, the heavy oil is being extracted to supply the growing demand of the United States, which has the least efficient vehicle fleet in the world. The current US Administration is primarily concerned with increasing supply of oil, rather than reducing demand and developing alternatives, which could also improve energy security.
Fuel produced from oil sands has higher lifecycle emissions than conventional oil production and should be excluded by low carbon fuel standards being proposed in the United States.