Tar Sands Oil Companies 71 Percent Foreign-Owned - Cue Ezra Levant's Outrage - 2012-05-10
ForestEthics Advocacy released a game-changing research brief today documenting the massive foreign control of Alberta's tar sands oil industry. Publicly traded oil companies with active tar sands operations have a very high level of foreign ownership – 71 per cent.
Some supposedly "Canadian" oil companies including Suncor, Canadian Natural Resources Limited, Imperial Oil and Husky are predominantly owned by foreign interests. More than half of Canada's oil and gas revenue goes to companies under foreign control.
This revelation stands in stark contrast to the talking points of the Harper administration and its media echo chamber, which insist that there is too much foreign influence over Canada's resource decisions from environmental groups. In fact, the evidence shows overwhelmingly that foreign interests are influencing tar sands and other resource decisions – chiefly Chinese and other foreign oil companies.