Shell, BP and other oil companies at the centre of the tar sands
revolution in Canada are facing a backlash from the Co-operative
and other members of the ethical investment community determined
to bring a halt to these operations for environmental reasons. A
joint report from Co-operative Investments and the wildlife
charity WWF released today will be followed up in September by a
meeting of the UK Social Investment Forum (UKSIF) to press for
an end to this carbon-intensive activity. The tar sands
business, by which crude oil is produced through highly carbon
and water-intensive extraction and treatment procedures, risks
tipping the world into an irreversible process of global
warming, critics claim. The Co-op and WWF are calling for a
global halt to new licensing for tar sands and similar oil
operations known as "unconventional fuels". They want the UK and
other countries to prohibit the sale and distribution of any oil
products with higher emissions than traditional petrol. The move
comes as Shell and othe