CP | By The Canadian Press Posted: 02/20/2013 9:02 pm EST | Updated: 02/21/2013 8:50 am EST
OTTAWA – A new report warns of the perils to the Canadian economy of relying too much on the oilsands.
The Canadian Centre for Policy Alternatives study says Canada is heading towards a “staples trap,” whereby the more quickly bitumen is exported, the less diversified and productive the economy becomes.
The study’s authors also warn of a looming “carbon trap” in which the Canadian economy is so closely linked to carbon-producing industries that it becomes difficult to adopt measures to deal with climate change.
