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Oil man calls Dion’s green plan “stupid’

Posted by mhudema on June 22, 2008

A Toronto philanthropist who made his fortune with investments in the Alberta tar sands has little praise for the federal Liberals’ new “green shift” policy.

Seymour Schulich said Friday that Stephane Dion’s plan to tax carbon emissions but cut taxes for the poor, the elderly and those living in rural communities “is one the stupidest things I’ve ever heard.”

“He’s committed political suicide,” Mr. Schulich said in an interview in Halifax before launching a renewable Dalhousie University scholarship worth more than $2 million.

“Everyone I know is already aggravated by high gas prices, and he wants to push them higher in pursuit of some mythical goal. It is ridiculous.”

In 2004, Mr. Schulich studied the outlook for oil and purchased 12.5 million units of the Canadian Oil Sands Trust for $110 million. At the end of 2007, his share of the company was worth an estimated $480 million.

Mr. Schulich said he has yet to see the science that convinces him that global warming is a man-made phenomenon.

“If we all lived in igloos and rode bicycles, I don’t think it would impact the climate one iota,” he said. “And if you think the government is going to recycle the money it collects, you must believe in the tooth fairy.”


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