Friday, April 20, 2012

EU delays oil sand labelling vote

The EU has announced it will wait until after a detailed study to have member nations vote on whether to support their "Fuel Quality Directive". This means a vote is not expected until early 2013. Canada has lobbied against the directive because it labels Canadian oil sands as highly carbon emitting.
The fear is not that it would remove a market, since Canada exports practically no bitumen products to Europe, but that it would start a precedent that could discourage investment and ultimately sales elsewhere in the world. Canada argues that there are other carbon intensive sources of oil, some of them more so than the oil sands, and that other environmental considerations should be taken into account.

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