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 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.
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.
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.