Canada’s oilsands and associated pipelines will become “stranded assets” as market forces drive consumers to adopt electric cars and other clean technologies, says prominent environmentalist Robert F. Kennedy Jr.
“We’re going to see a very rapid market adaption, a disruptive adaption of electric cars,” he told a keynote session at the GLOBE 2014 international environment business conference and trade show, held in Vancouver in March.
As that happens, “anybody who’s producing oil for $59 dollars a barrel is going to have stranded assets – those pipelines and that business,” said Kennedy, president of the Waterkeeper Alliance and venture partner and senior advisor with Vantage Point Capital.