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Finally, some good news: The global economic slowdown might curb runaway carbon emissions in Northern Alberta’s oil sands—at least temporarily.

Oil dipped below $50 a barrel this week for the first time since May 2005, and according to a report in Thursday’s New York Times,

“some analysts predict oil could fall to $30 to 40 a barrel as the world economy worsens.”

That $30 is a magic number for many energy economists, who for years have argued that Alberta’s oil sands projects are only viable when petroleum is trading above it.

Taken together, the mining and processing megaprojects represent Canada’s leading source of the heat-trapping carbon emissions that cause global warming. According to Pembina Institute estimates, by year end the operations will have released around 46 million metric tonnes of equivalent carbon-dioxide into the atmosphere.

But there are already signs that the machinery may be slowing.

The Vancouver Sun notes that the ongoing market slide has placed a de facto “moratorium” on development in the oil sands.