Keystone XL will not lessen U.S. dependence on foreign oil, but rather transport Canadian oil to American refineries for export to overseas markets.
A dual focus on increasing access to energy services for the world’s poorest and promoting clean sources of energy is a win-win scenario for development and the environment.
Our research found that at least four of the top six IOCs have significantly relied on tar sands reserves additions to support RRR rates in the past five years. As a percentage of total liquids additions, tar sands represents between 26% and 71% of reserves additions for these four companies.
This study finds that none of the World Bank Group’s fossil fuel finance directly targets the poor or ensures that energy benefits are reaching the poor.