Canadian anti-oilsands group claim oilsands companies mostly foreign owned
14 May 2012
Responding to criticism of foreign funding of environmental charities, Canadian anti-oilsands groups last week released a report showing oilsands companies were overwhelmingly foreign-owned.
ForestEthics Advocacy, part of ForestEthics, a registered charity - released a shareholder analysis based on Bloomberg statistics that showed 71 per cent of all companies operating in AlbertaFort McMurray area were not Canadian.
According to Tzeporah Berman, of ForestEthics Advocacy, the amount of foreign funding to Canadian environmental charities was low, in marked contrast to the high foreign ownership of the oilsands.
According to the group, of the remaining Canada headquartered companies, many were largely foreign-owned, and Husky Energy, a Calgary-based company, was 91 per cent owned by foreigners, most notably Hong Kong billionaire Li Ka-shing.
Additionally, ForestEthics Advocacy (FEA) cited Statistics Canada numbers showing 118,000 people were employed in oilsands production, accounting for less than 1 per cent of Canada's working population.
The group also addressed the foreign funds for Canadian charities issue.