Anti-oilsands group claims industry too foreign-owned
May 10, 2012 at 3:35 pm in Business, News by tyler.king
A prominent anti-oilsands group is trying to raise opposition to the industry by pointing out how much of it is foreign owned.
ForestEthics is telling media that almost three-quarters of shares of oilsands companies are foreign-owned.
It also says more than 40 percent of the profits from the oil sands go to foreign companies.
But University of Alberta professor Andrew Leach has pointed out that in 4 of the last 5 years, profits in the manufacturing industry have been more foreign-owned than the oil and gas industry’s.
Published May 10, 2012