A lot of comments here saying that this will increase the cost of oil so make oil extraction more profitable. But I wonder, this won't increase demand, because it's increasing cost. So it's a net-win, right? Tar-Sand oil is so environmentally unfriendly that the alternative is better, afaik. But this ignores falling costs for renewables. Since the price of renewables is falling drastically, this should bolster energy creation via renewables (since it becomes more competitive) and therefore also driving the cost further down. So this could also accelerate the progress of switching to renewables.
I think the better way would be to build the pipeline without subsidies at all and increase taxes on it. So we won't see a cheaper price and have a better mode of transport, but that's probably not politically feasible, so this is the next best option.
I think the comments declaring "oil will find a way" are completely wrong. This is not about eliminating oil and I think most supporters of the scrap will know this.
I think the better way would be to build the pipeline without subsidies at all and increase taxes on it. So we won't see a cheaper price and have a better mode of transport, but that's probably not politically feasible, so this is the next best option.
I think the comments declaring "oil will find a way" are completely wrong. This is not about eliminating oil and I think most supporters of the scrap will know this.