Wednesday, August 20, 2008

Dirty Oil and Clean Money?

So Hebron is a go, good for Newfoundland! Funny how the media is fawning all over Danny Boy, and the 20 Billion this will bring into Newfoundland. What does Alberta get? Calls of DIRTY oil and dead ducks. One mutant fish is reason enough for the oil sands to be shut down. Do these media types have any idea of how big the oil sands are and how much money is being generated from development? Maybe they should take a tour of the oil sands like these two individuals.

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!


Ardvark said...

20 billion in and 35 Billion "shifted" out with Dion's carbon tax.
Good times ahead for big oil and the government, but not so much for the taxpayer.

Jeff Davidson said...

Just don't you all leave Alberta, we need you here!

cuz it's all about alberta huh?

jad said...

Premier Williams has done a great deal with the oil companies on this one, and ther must be a lot of high-fives in the corporate boardrooms today.

There is a reason most provinces (and countries) don't ask for an equity stake in a development - it means you are also on the hook for your share of expenses in the project. And these expenses have to be paid before you can start drawing a nickel of the royalties promised. Plus of course Newfoundland as an equity holder would be liable for a share of the royalties payable to - Newfoundland.

Way to go, Danny. Although of course he will be long gone by the time the project ever comes on stream in about 2017.

Alberta Girl said...

Soooo I wonder how all the other six legged calves and two headed cats and siamese twins throughout the world can be blamed on "Big Oil", Stephen Harper and George Bush.....sigh.

hunter said...

Well Jeff, I happen to like all the people that come here from the Atlantic provinces (Hubby is from PEI). They work hard and fit in with everyone, so I would hate to see them ALL leave.

Don't let your jealousy turn you green. You might get shafted!

Powell lucas said...

I am one of the many Albertans who are more than pleased that Newfoundland and Labrador has struck it rich. It's long overdue for the good folks in that province. I will be sorry to see many of them go, but if there is anything a Newfoundlnder loves it's The Rock.
The media's praising of this good fortune while they continue to denigrate the oil sands has nothing to do with clean? or dirty oil. It is all about the politicos and cultural elite in Ontario believing that Alberta has gotten too big for its britches and needs to be slapped down to its proper
And that proper place is on our knees as we genuflect toward Ottawa and Toronto while passing over a large cheque so Dalton McGuinty can expand his socialist Utopia.

Alberta Girl said...

I have a facebook friend - lovely girl - very liberal who is continually posting u tube videos and articles about the "tar sands".

Today it was the famous fish with the comment - someone should make Ed Stelmach eat this. As my husband said - he finds these kinds of things all the time. Nature is full of instances of mutations - a fish with an extra jaw has become a "two headed fish" and the fact it was "found" close to the "tar sands" feeds into the enviroweenies agenda.

Platty said...

Anyone have a link to Danny Boys take on his buddy Steffi's Carbon Tax proposal?


West Coast Teddi said...

Well Jeff, your next assignment (should you take it) will be to take pictures of the Ocean Ranger, polluting all those cods. That would make it "dirty cod oil".

And yes it is all about Alberta, cuz dats where dee action is, huh?

Alberta Girl said...

"And yes it is all about Alberta, cuz dats where dee action is, huh?"

and da izzy money!