After Quebec Premier Jean Charest publicly decried the oilsands projects last year in Copenhagen, the Quebec government is now asking entrepreneurs in the province to participate in a commercial mission in Edmonton to set up some business relationships with Alberta’s oil industry.
In a message destined to entrepreneurs from Quebec, the Ministry of Economic Development said “that the resumption of the oil sands development projects in Alberta” provides us with “some good business opportunities."
The ministry goes on to provide a list of the projects for which Quebec companies could become suppliers such as Suncor and Husky.
Well, Quebec better act fast because the Chinese are very interested in the oil sands, and businesses do not really care who invests the money. Another interesting development lately has been "green" investors who are wanting oil companies to prove their projects are green, in an attempt to delay development. Why would eco-nuts buy shares in dirty profit motivated oil companies, then protest what they are doing? Power. Lawsuits are all the rage with them as well, but as their government money starts to dry up, expect their lawsuits to dry up as well. Lawyers are expensive.
Here is an interesting development that should have Ontario and Quebec sitting up taking notice.
China's clout draws oil sands IPO
CALGARY -- China's growing influence on Canada's oil and gas sector is about to show up in a new way as an oil-sands company prepares to go public in Hong Kong, rather than on Bay Street. The move breaks from the pattern domestic energy companies and their bankers have long followed, and could have lasting implications for the Toronto Stock Exchange.
Sunshine Oilsands Ltd., which snapped up more than a million acres of oil-sands leases between May 2007 and October 2008, is ready to launch a steam-assisted gravity-drainage pilot project. The Calgary company is looking to raise hundreds of millions of dollars on Hong Kong's stock exchange, a first for a Canadian energy company that highlights just how anxious Asian investors are to grab a slice of the oil sands.
Ever notice how the TSX seems to be tied into the price of oil and gas? When the price of oil is going up, so does the TSX, oil down, TSX down. Now that is a very simple explanation, but the energy sector is a large part of the TSX, and that appears to be about to change, not to the good of Bay Street.
Imagine that, after being vilified and sued by enviros, energy companies are going to Hong Kong to raise funds. What are the chances that Chinese companies are going to go to a board meeting and demand that their investment should be "greener"? Right.
I wonder, when Sunshine Oilsands wants some special equipment developed, where are they going to go, to Ontario with their high priced union shops, or to China, who invested in their company, and can provide what they need for much lower costs?
The most interesting and hilarious result of this initiative is that the enviros can't say a thing against it. They are the ones who consider China a developing nation and cry that we should not restrict their development. It just so happens that through investment, they will be developing the oil sands. So, keep on slamming the oil sands, they are not going anywhere, and if Canadians don't want to invest in them, China and India will. Now, about that pipeline through northern BC to get our product to Asian markets, think BC will stop it or join in the profitable game?
