Buffet and Gates tour Alberta oilsands
CALGARY -- Two of the world's richest people, Microsoft Corp. founder Bill Gates and his friend, American investment magnate Warren Buffett, quietly flew into northeastern Alberta on Monday, where they took in the oilsands, apparently with awe.
So two of the richest men in the world think the oil sands might be a good place to invest? Nothing on CTV news about this.
One source said Mr. Gates and Mr. Buffett, who in recent months said he favours investing in the Canadian oilsands because it offers a secure supply of oil for the United States, visited the booming hub to satisfy "their own curiosity" but also "with investment in mind."
As of 2006, Mr. Buffett was an investor in American oil giant ConocoPhillips, which owns sizable oilsands assets in a partnership with Canada's largest oil company by market value, EnCana Corp.
Can't wait for my EnCana shares to split!
There is presently $125 billion worth of new construction being planned, which when combined with operating expenses add up to a whopping $215 billion over the next five years.
This is NEW construction, kind of makes Newfoundlands 20 Billion look small. But trumpets are blaring for Danny Boy because he doesn't like PM Harper. You can bet if both Warren and Bill visited Toronto's Bay Street, the media would be slobbering all over themselves to get the story on the airwaves. Alberta oil sands, not so much.
Personally, I think they would be smart to invest in the oil sands because no matter how much the econuts protest, the demand for oil is not going away anytime soon.
So, welcome to the big times Newfoundland, it looks good on you! Just don't you all leave Alberta, we need you here!