EU to Tackle Canadian Tar Sands in New Law – Sources
(Reuters – Pete Harrison and Juliane von Reppert-Bismarck)
Europe’s trade and climate chiefs are preparing to take a stand against imports of oil from Canada’s polluting tar sands, despite fears the move might wreck a multi-billion dollar trade deal, according to EU sources and documents.
European Union sources said this week that Canada had threatened to pull out of trade talks because of the clash, but Ottawa has denied that. Canada says draft EU standards to promote greener fuels will harm a possible future market for its oil sands – tar-like oil that is trapped in sediment and forms the world’s second-largest proven oil reserves after Saudi Arabia’s.
Last year the European Union appeared to back down on the issue, putting commerce ahead of a strategy to curb greenhouse gases from transport fuels by 6% this decade. Read more here.
Related: Canada Says EU Oil Spat Not Linked to Trade Talks (Reuters)
Date: February 25, 2011