Shell is investing millions in Canadian tar sands for producing oil. The news might be good for the industry, but brought up several questions about the environment.
Recently the investors of the oil giant are asking questions about how green is the project, and the answer is not one the society would expect from a fuel giant.
The investors, which will vote for the future of the project, could fully dismiss it, if Shell doesn’t guarantee a way to reduce the greenhouse gas emissions. The power of generating, extracting and producing oil causes high carbon emissions that are not acceptable to the public opinion.
Experts are warning that exploring the tar sands leads to destroying the environment and the nearby forests. The Shell investments in Canadian tar sands are major and produce 155,000 barrels daily.
The oil sands are known as the second biggest petroleum reserve in the world after Saudi Arabia oil reserves. The estimate production of the Canadian tar sands is nearly 1.7 to 2.5 trillion barrels of oil daily but if Shell doesn’t bring a viable decision to solve the polluting emission problem, the project will be closed.