Oilsands Critics put Spotlight on Foreign Ownership

Anti-oilsands activists hit back at recent criticism of foreign funding of environmental charities Thursday by releasing a report showing oilsands companies are overwhelmingly foreign-owned.

ForestEthics Advocacy — a spin-off of ForestEthics, which is a registered charity — released a shareholder analysis conducted using Bloomberg statistics that found 71 per cent of all companies operating in the Fort McMurray, Alta., area are not Canadian.

Of the remaining companies that are headquartered in Canada, many are largely foreign-owned, the group says. For instance, while Husky Energy is a Calgary-based company, 91 per cent of it is owned by foreigners, most notably Hong Kong billionaire Li Ka-shing.  Read More…

This article has 9 Comments

  1. Curt Endres

    Say what you will but the more conservatives take control the more Canadians lose their core values and the more we become products for more foreign nations. Shame.

  2. Rudy Sanders

    With employment looking good there is little doubt that Harper will continue to have majority rule and keep shifting this country more Right and when we wake up we will realize we are corrupt like our US cousins.

  3. Jerome S

    To no ones surprise the Aberta pipeline will move forward and ship our oil the US. No one listens to the environmentalists.

  4. Alfred Hestey

    Although it seems nice on the surface that Canadians are getting benefits from the oilsands when you look deeper you see it isn’t all that much compared to the corporations who are making even more.

  5. Antony

    Wait a minute so these foreigners get to mine our oil and use it as they will (sell it back to us at an inflated price) and we get the scraps? How is that fair?

  6. Justen A.

    Weep all you want tree huggers progress keeps moving forward. I say god put the oil down there and so it should be brought back up. If the land goes bad then it was gods will.

  7. Leroy G.

    Although we are getting billions pumped into our economy i find it humorous that we don’t own our own oil.

  8. Leif H.

    Wow how would have thought that people making billions from our oil are not Canadians. maybe its time the oil become property of its people not to a relative few that dont give a damn about this country.

  9. Roderick W.

    I am a big follower of how oils and other toxins affect our environment and its a disgrace that this is all a farse and bit by bit our beautiful country is looking like another sink hole.

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