News broke last week about PetroChina Co. Ltd’s intentions to get involved in the tar sands. The $1.9 billion dollar deal with privately owned Athabasca Oil Sands Corp. (AOSC) will see PetroChina acquire a 60 per cent working interest in AOSC’s MacKay River and Dover oil sands.
Under the Investment Canada Act, the federal government is obliged to review foreign takeovers to ensure they represent a net benefit to Canada. Recent amendments to the Act authorize the government to review whether investments impair or threaten to impair national security. As Industry Minister, Tony Clement has the authority to recommend such a review.
Read a letter to the editor I wrote in response to a Globe and Mail article on the deal arguing that any actions that help to expand the tar sands are not in Canada’s ecological and energy security interests.
Send an email to Minister of Industry Tony Clement, urging him to ensure that the deal between PetroChina and AOSC is reviewed in the interests of Canada’s national security including considering both ecological and energy security.
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