Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
What’s good for the planet won’t be great for the oilsands, if two recent studies are any indication.
The price of oil could level out at anywhere between $83 and $87 per barrel from 2030 to 2050 if countries manage to pass lower-carbon policies, says a report from U.K.-based consultancy Cambridge Econometrics.
And with a break-even price of about $80 per barrel, any new oilsands mining projects would only barely make back their investment.
