Alberta’s oil sands to divest from itself

CALGARY (The News Desk) — Representatives from the oil sands in Northern Alberta have announced a plan to divest from all activities and organizations involved in extracting raw bitumen from the ground and converting it to crude oil.

The Association of Oil Sands Companies (AOSC) told reporters that they will immediately begin reducing their dealings with non-renewable energy companies in the Athabasca region due to the harmful impact of such activities on the environment.

“Following the lead of many post-secondary institutions, philanthropic organizations and local governments around the world, we are committed to reducing our affiliation with anyone involved in the removal, refinement or transit of fossil fuels,” read a statement to media released by the AOSC.

“The environmental impact of fossil fuel extraction is no longer in doubt, and this issue is just too hard to ignore,” association president Regina Deluca told reporters.

“The emissions related to oil sand crude are even worse than conventional oil.

“Our members just don’t want to have anything to do with anyone else involved in it.”

The association’s plan involves a reduction in its dealings related to crude bitumen energy to 20 per cent by the end of this year, with a further decrease to 0 over the following 12 months.

“This means no more contracts, no more procurement, no more revenue of any sort derived from oil sands operations,” said AOSC spokesperson Dennis Salazar.

Salazar added that the AOSC had not thoroughly researched how this divestment will affect their member organizations of oil sands companies, but they were not overly concerned.

“The future is in green energy — industries such as solar, wind, geothermal and biomass. We plan to shift our investment to those segments.

“Now’s the time to take a stand.

“We don’t want to be on the wrong side of history.” ♦

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