Mining the oil sands is a difficult business, but it's one of the biggest oil resources left in the world. Tapping into this resource can be an awfully dirty process. Now, though, General Electric (NYSE:GE) CEO Jeff Immelt, a proven business leader with close relationships with Wall Street, Silicon Valley, and Capitol Hill, is trying to find a way to improve oil sands production by reducing its carbon footprint.

In the following episode of Where the Money Is, analysts Taylor Muckerman and Joel South discuss how Immelt is paving the way for Canada to benefit from increased oil sands production by pioneering an open source project in which oil companies hold each other accountable and share best practices. 

 

Joel South and Taylor Muckerman have no position in any stocks mentioned. The Motley Fool owns shares of General Electric. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.