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Even discounting what others said about significant opposition to further investment in fossil fuels: Alberta oil is in tar sands, which is expensive to refine
by fatbird 5y ago
Even discounting what others said about significant opposition to further investment in fossil fuels: Alberta oil is in tar sands, which is expensive to refine and is not economically viable to extract unless the price of oil is over $70-80/barrel, which is historically not steady enough to justify massive capital investment in refining capacity.
Basically, when the price of oil is over $75/barrel, tar sands extraction spins up, pulling in high priced labour from all over; when it drops below that, there's a lot of layoffs and work stoppage. This is why Alberta is caught in a perpetual boom/bust cycle. And politically, it's really hard to diversify to stabilize and break this cycle, when everyone is screaming for supporting the oil industry. Unqualified support for tar sands exploitation is a litmus test for any Alberta politician.