Today brings another fascinating development in the saga of the Alberta tar sands, which is becoming one of our favorite topics here at InvestigateWest and shows signs of becoming a major geopolitical dispute as well as a massive fueler of global warming.
[caption id="attachment_3469" align="alignright" width="252" caption="Developing the tar sands leaves behind huge lakes of toxic waste, like this tailings pond. Photo courtesy of Greenpeace."]
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The big news today is that a Chinese state-owned company, PetroChina, has purchased a 60 percent stake in the Athabasca Oil Sands Corp.'s MacKay River and Dover projects for nearly $2 billion.
This is likely to boost the case for building a pipeline across the Rockies to unload oil-sands petroleum on the west coast of British Columbia, a prospect completely unwelcome to native First Nations living in B.C.
For more on the environmental implications of the tar sands, see this recent Dateline Earth post. Or, just suffice it to say the impact is huge.
The Calgary Herald's editorial writers missed a comma in the following excerpt, but it conveys the apprehensions some are feeling in Canada and the United States about PetroChina's move:
Canadians should be deeply concerned about the relationship that would evolve, in which a foreign government increasingly makes important decisions about a premier Canadian industry and not necessarily with the free market in mind.