|Oil Sands Economic Engine Canada's Global Energy Super Power|
The next time Jack, Gilles or Ignatieff spout off against the oil sands maybe the media can remind them our Pensions are invested in them.
The Canada Pension Plan Investment Board is making a sizeable investment in Canada’s oil sands. The pension plan announced that it was making a $250-million private placement in Laricina Energy Ltd., a Calgary-based company that has a portfolio of oil sands assets that range from properties in the McMurray formation as well as sites near Grand Rapids and Grosmont. With this investment CPPIB now owns a 17.1% equity interest in the company. -CPP
First, last year we began removing the special tax incentives brought in by our predecessors that actually encouraged and subsidized the growth of the traditional oil sands industry. We are phasing those out and replacing them with incentives for the deployment of green technology only.-Canadian Media: Not smarter than a 5th grader?