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Posts Tagged ‘energy firms’

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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