Cost Of Extracting Canadian Tar Sands Oil Could Turn All Of Europe's Cars Electric

Shale Oil

Canadian shale oil projects are being attacked over their cost inefficiency compared to what could be major environmentally positive energy investments, according to The Guardian.

The Albian Sands project, which will cost 250 billion pounds ($380 billion), will see Shell, Chevron, and Marathon benefit from the production of crude oil, which will eventually go to market.

Opponents are arguing that the money could better be used to fund a European wide electric car scheme and Saharan solar panels to turn Europe carbon-neutral.

But with 4 million barrels of oil a day set to be produced by this shale oil tar sands investment by 2025, pulling out seems unlikely for major oil manufacturers.

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