Greenpeace urges TD bank boycott

Bank oil sands investment chart

This report is not intended to discuss climate change but the financial
implications for the oil sands for banks and Canadians. The chart below
shows the magnitude of Canadian bank investment into pipelines

Over $3.4 billion invested by large Canadian banks

Royalties

Royalties from the oil sands is significant. However, this is just part of
the economic impact. The NRC has projected trillions in economic benefits:

$285 billion in provincial and personal income taxes / $464 billion in
federal and personal income taxes / $490 billion in royalties paid to
provincial governments / 151,000 jobs

GHG versus other crude

Most people have been led to believe that GHG from the oil sands produces
more GHG than other oil. This chart shows this is not necessarily the case
if you factor in flaring.

The conclusion from this is that all fossil fuels are a problem, which is
why regulations and consumption are a more logical target for activists.

Oil sands impact

Here is another slide showing the impact of the oil sands.

When you consider the amount of GHG by the US and China, the impact of the
oil sands seems minuscule. China and the US use coal the generate
electricity as well as petcoke. These are known to produce much more GHG in
proportion to energy created.

Carbon tax

Canadians are going to be charged a carbon tax. This is intended to
discourage consumption, but in reality it is a tax grab. See the next chart
for why.

GHG breakdown

As you can see from this chart. The oil sands produce as much GHG as the
entire transport segment.

Considering that Canada's oil is mostly foreign owned, and that these
resource extractors will pay lower carbon taxes than citizens, I could see
this as a ground for Canadian's to protest.

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