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21

To Kill Or Not To Kill

Implementation of the Kyoto climate accord...

Implementation of the Kyoto climate accord will not influence much on the investment in Canada's burgeoning oil sands industry.

However the situation is rather controversial. Last week, TrueNorth Energy, a unit of U.S. industrial giant Koch Industries, shelved a $2.2 billion northern Alberta oil sands project, blaming rising labor and material costs, jittery capital markets and uncertainty over Kyoto.

However, Suncor Energy Inc., the biggest single oil sands player, has said Kyoto's impact would not be "material" and said its spending would continue.

Canada's oil-laden sands are seen as its oil industry's future as it moves to boost production to meet a growing thirst in North America for secure oil supplies.