Tar Sands Resistance Blowing Huge Hole in Oil Industry’s Bottom Line: Report

Warrior Publications

tar_sands_blockade‘Business as usual for Big Oil—particularly in the tar sands—is over.’

by Lauren McCauley, Common Dreams, October 29, 2014

The growing tide of tar sands resistance—seen in blockades, tree sits, petitions, education efforts and calls to divest—is having a measurable negative impact on the bottom line of the tar sands industry, according to a new report, prompting researchers to declare that “business as usual for tar sands is over.”

Published Wednesday by the Institute for Energy Economics and Financial Analysis and Oil Change International, the report, Material Risks: How Public Accountability Is Slowing Tar Sands Development(pdf), finds that tar sands production revenues were down about $30.9 billion from 2010 through 2013. And according to the report, more than half of that lost revenue, roughly $17 billion, can be attributed to the fierce grassroots campaigns that have sprung up throughout North America in the past few years.

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