This investment in tar sand represents a growing commitment to extract enormous quantities of these fossil fuels, meaning that even more carbon will be moved from below the ground up into the atmosphere.
‘(Reuters) – China’s state-owned Sinopec plans to buy ConocoPhillips’ stake in the huge Syncrude project in Canada’s oil sands for $4.65 billion, marking one of the country’s largest investments ever in North America.’
via Sinopec to pay $4.65 billion in oil sands deal | Reuters.