STOP: Stop Tar Sands Operations Permanently

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Posts Tagged ‘Canadian association of petroleum producers’

Oilsands needs special reporting rules: Environment, investor groups

Posted by mhudema on September 17, 2008

Randy Boswell
Canwest News Service

Canada’s oilsands industry, already the target this week of a major British investment firm’s campaign against the “climate-hostile fuel,” is now under fire from an international alliance of environment and investor groups, which has urged the U.S. securities regulator to rewrite proposed new rules on reporting petroleum reserves to reflect the “potentially enormous risks” – financially and ecologically – associated with the “carbon-intensive” Canadian energy source.

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Protesters serve dirty water

Posted by mhudema on June 17, 2008

Oil investors pass on oilsands H2O
BY ALICIA FOX
June 17, 2008 01:31

Tainted water from a lake near Fort Chipewyan and from the Athabasca River, was offered to international investors and members of the Canadian Association of Petroleum Producers by environmental protestors yesterday at the Calgary Hyatt Hotel.
“We’re here to tell the investing community that if they’re investing in the oilsands, they’re investing in something that comes with an increasing price tag,” said Mike Hudema from Greenpeace Canada.
Lionel Lepine from the Chipewyan aboriginal community said even the kids are wary about swimming in the lake and eating fowl or fish from the area which could be contaminated with arsenic and mercury due to oil sand production.
“Our whole tradition and way of life is in jeopardy,” Lepine said.

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Energy firms put on the spot

Posted by mhudema on June 17, 2008

Symposium lures investors and protesters
Jon Harding
Calgary Herald
Monday, June 16, 2008

Oil and gas companies swimming in cash. Protesters handing out bottles of Athabasca River water.

Both await 350 of the top institutional investors in the Canadian oilpatch as the Canadian Association of Petroleum Producers (CAPP) investment symposium begins Monday in Calgary.

The annual CAPP event opens with a different backdrop to a year ago, when drilling activity in Western Canada was in a rut and capital markets were dry as dust, particularly for scores of Canada’s junior and intermediate explorers.

Oil prices are fluttering towards $140 US a barrel and natural gas prices are up roughly 70 per cent since January — an almost immeasurable difference, although one that investors in equities have still not taken completely to heart. Some Canadian oil and gas stocks are up but the group as a whole has lagged behind growth in surging oil and natural gas.

Meanwhile, the world’s focus on Alberta’s oilsands has recently intensified amid global supply constraints and growing concern about the massive play’s environmental footprint.

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Energy battles boiling over

Posted by mhudema on June 17, 2008

Energy battles boiling over
Industry faces public conflict across Alberta
Richard Cuthbertson and Dan Healing, with files from Renata
Calgary Herald
Tuesday, June 17, 2008
Native elder Taz McGillis of Edmonton takes part in a protest Monday at the Canadian Association of Petroleum Producers symposium at Calgary's Hyatt Regency hotel.
CREDIT: Ted Jacob, Calgary Herald
Native elder Taz McGillis of Edmonton takes part in a protest Monday at the Canadian Association of Petroleum Producers symposium at Calgary’s Hyatt Regency hotel.

A Wall Street analyst attending Calgary’s prominent energy investment forum found himself in the eye of a growing environmental storm battering Alberta’s oilsands — one of several clashes centred on the energy sector Monday.

About 50 people gathered outside the Hyatt Regency to protest the Canadian Association of Petroleum Producers investment conference, an annual event that draws hundreds of oil executives and well-heeled corporate clientele from around the globe.

Ross Levin, a New York hedge fund analyst, decided to find out what the fuss was about, but when Greenpeace spokesperson Mike Hudema offered him a bottle of muddy Lake Athabasca water to drink — the main source of water for the booming oilsands — he declined.

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Energy firms put on the spot

Posted by mhudema on June 16, 2008

Symposium lures investors and protesters
Jon Harding
Calgary Herald

Oil and gas companies swimming in cash. Protesters handing out bottles of Athabasca River water.

Both await 350 of the top institutional investors in the Canadian oilpatch as the Canadian Association of Petroleum Producers (CAPP) investment symposium begins Monday in Calgary.

The annual CAPP event opens with a different backdrop to a year ago, when drilling activity in Western Canada was in a rut and capital markets were dry as dust, particularly for scores of Canada’s junior and intermediate explorers.

Oil prices are fluttering towards $140 US a barrel and natural gas prices are up roughly 70 per cent since January — an almost immeasurable difference, although one that investors in equities have still not taken completely to heart. Some Canadian oil and gas stocks are up but the group as a whole has lagged behind growth in surging oil and natural gas.

Meanwhile, the world’s focus on Alberta’s oilsands has recently intensified amid global supply constraints and growing concern about the massive play’s environmental footprint.

Read the rest of this entry »

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