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.
This report reveals that petroleum products containing tar sands crude oil have been regularly entering the EU’s petroleum supply chain for some time, primarily through imports of diesel from the US Gulf Coast. If the proposed Keystone XL pipeline is built, bringing tar sands from Alberta to Gulf Coast refineries, the amount of tar sands derived diesel entering Europe will rise dramatically.
This report was researched and written by OCI Research Director Lorne Stockman and published by Greenpeace UK and Platform.
Download the report