“Oil Sands Threaten to Destroy the Planet”
In a recent conference call with infamous BMO Harris Bank economic and market strategist Donald Coxe, Don suggested a few interesting global investment phenomenons.
The most notable, of course, is one that concerns us right here at home – our beloved Alberta and Saskatchewan oil sands. In a somewhat recent speech, Al Gore (former VP of the USA), stated that the “Canadian Oil Sands threaten to destroy the planet”. This is of course because of their affect on global warming, by way of C02 emissions they emit in the production and usage of oil and gas.
The effect that these comments have had on global, mega-size institutional investors, the ones that manage large pension funds, endowment funds and the assets of charitable organizations, has been quite negative. If the story holds true, then these institutional investors have effectively “black-listed” the Oil Sands as an investment and therefore cannot be used as an option within the assets they mange, due to pressures for their clients.
So here we sit in Canada, a highly-liked nation by foreigners, a political-friendly and stable nation, sitting on one of the worlds largest natural resources that may need be avoided by some of the worlds largest money managers all thanks to Mr. Gore’s comments. Buy what if Mr. Gore’s scientific research and modelling on global warming doesn’t pan out nearly as bad as he suggests?
- A massive influx of new capital in to the Oil Sands?
Challenges to his theories are currently underway.
Saverio Manzo
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