Monday, February 15, 2010

The Dutch oil company Shell says it is scaling down its expansion into oil from tar sands, amid signs that the environmental disadvantages of ‘unconventional’ oil sources are leading to fears that such oils could be economically unviable. While Shell says it has confidence in enough conventional sources of oil, soaring costs in the tar sands region of Alberta, where it has invested in an oil project, have made further investment there less attractive.