Toronto, ON – For the past several years, the oil industry has been telling Canadians that the expansion of the tar sands is inevitable. But the indefinite delay of the Josyln North tar sands mine is a clear indication that industry’s growth forecasts are not accurate and a sign that the continued expansion of the tar sands is anything but inevitable.
Tar sands are high cost, high risk, and high carbon. Josyln North’s mothballing is the latest in a developing trend that doesn’t bode well for the industry’s future. The economics of the tar sands are marginal today. And in a carbon constrained world, they become increasingly unviable.
It’s no coincidence that this announcement follows the indefinite delay for the Keystone XL pipeline.  Oil company Total was a major partner on the Josyln North project, and was also registered as a shipper on the Keystone XL pipeline.
The question is, will Canadians see the writing on the wall and unsaddle our energy and economic strategies from growth of a sector that comes with high risks and rewards that are far from secure? It is time to invest in clean and safe energy for the future of our environment and our economy.
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Stephanie Kohls, Environmental Defence, 416-323-9521 ext. 232, 647-280-9521,