Oil Major: 70% Of Crude Can Be Left In The Ground

Canada’s oil sands are too dirty to be produced, and should
probably stay in the ground. That has long been the sentiment of
environmental groups, but it is also gaining acceptance even among
some of the largest oil companies in the world.  “A lot of
fossil fuels will have to stay in the ground, coal obviously … but
you will also see oil and gas being left in the ground, that is
natural,” Statoil’s CEO Eldar Saetre told Reuters in an interview.
“At Statoil we are not pursuing certain types of resources,…

Canada’s oil sands are too dirty to be produced, and should
probably stay in the ground. That has long been the sentiment of
environmental groups, but it is also gaining acceptance even among
some of the largest oil companies in the world.  “A lot of
fossil fuels will have to stay in the ground, coal obviously … but
you will also see oil and gas being left in the ground, that is
natural,” Statoil’s CEO Eldar Saetre told Reuters in an interview.
“At Statoil we are not pursuing certain types of resources,…