Keeping fossil fuels in the ground while promoting low-carbon fuels, electric vehicles and smarter transportation systems.
Changing the Economics: Fight Keystone XL and Tar Sands Expansion
When dealing with something as vast and slippery as Big Oil, it can take time to wrestle it to the ground. To keep up with desired production plans and maintain investor confidence, the industry needs to double the current capacity of pipelines out of Alberta, increasing it by between 3.5 to 4 million barrels per day. Even if all proposed pipelines were built—TransCanada’s Keystone XL among them—there still wouldn’t be enough capacity to handle the growth that companies have laid out in their expansion plans. Because of this, a delay or defeat of any of these pipelines is a significant blow to tar sands production and profitability.
And that’s where the opportunity lies. In 2012, Wall Street adopted a wait-and-see stance, halting investment, gumming up oil industry plans, and forcing it to lower production forecasts. The fact that the Club and its partners have, with legitimate cause, delayed Keystone XL by 4 years has prevented not only major bank investment but also the release of 400 million metric tons of CO2 into the atmosphere.
New Standards for a Better World: Keeping up Pressure on Fuel Efficiency
In 2012, The Sierra Club Foundation supported efforts to get 300,000 messages to the EPA and the Department of Transportation, advocating for cleaner vehicle legislation. Those efforts have paid off. The 54.5 miles per gallon fuel efﬁciency standards announced in 2012 will double the average efﬁciency of all vehicles on the road by 2025. Not only is this “change we can believe in,” it’s also the most signiﬁcant measure to get off oil in four decades.
To learn more about the Beyond Oil Campaign on the Sierra Club's website, click here!