Petro-Canada Case Study

Another factor to consider is the boom in petroleum-based commodities of the last decade, and the role that oil companies such as Petro-Canada plays from an environmental perspective. With the rapid expansions in petroleum comes many impacts to the environment as well as to society as a whole. There has been shifting economic landscape and government regulations to control the boom in this period. The world is dependent on fossil fuels for 80 percent of its energy, but at the same time, it is threatening life on Earth. As with the use of any fossil fuel, the environmental issues stemming from Alberta’s oil sands is an extremely divisive one. Essentially, Canada is deriving a large amount of its revenues from a product that is threatening the planet. …show more content…
Furthermore, if poorly managed, oil sands can be an enormous source of harmful pollutants, leaving irreversible damages. In the process of oil sands mining operations, greenhouse gases and other pollutants are released into the environment. These gases not only harm the environment, but also to human health in the long term. Despite all the controversies regarding the Petro-Canada, its creation has undoubtedly aided in the economic growth of Alberta’s oil and gas industry. Although oil sands are the cause of much ecological damage, it is crucial to note that the oil sands are necessary for day-to-day life, and have now become one of the main sources of energy for Canada and other industrialized nations. Not only that, its global demand is rising, underpinning the motorized society today. Without this vital commodity, the world would be brought to a halt; factories will stop running, and so will cars and airplanes. The recent merger of Petro-Canada with Suncor Energy Inc. in 2009, forms the largest energy company in Canada, providing it the financial strength to be globally