Shell Withdraws From Largest Tar Sands Project Yet

Posted by Mike Confino, February 26, 2015

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Keystone XL is not the only deciding factor in the future of tar sands extraction.

The outsized debate over the Keystone XL pipeline, which entered a new era yesterday after Obama wielded his veto pen against legislation approving its construction, is not the only element in the debate over whether the greenhouse gas-intensive tar sands get developed. Oil supply, demand, and cost are pulling some major levers too: with oil prices at rock-bottom lows, on Monday Royal Dutch Shell announced it was shelving plans to build a new tar sands mine in northern Alberta — the largest such project to be deferred.

via Shell Withdraws From Largest Tar Sands Project Yet | ThinkProgress.