Buffett and Gates tour Alberta oil sands
Wednesday, August 20, 2008
Industry is attracting high-profile visitors and worldwide business interests, as well as growing
protest from environmentalists.
protest from environmentalists.
Alberta's growing stature as a global economic force has been highlighted by an unexpected visit from
two of the world's richest men to the province's oil sands.
At the time of the year when multibillionaires might easily be expected to be sunning themselves in the
tropics, Warren Buffett of the mammoth holdings company Berkshire Hathaway Inc., and Microsoft
founder Bill Gates on Monday instead took in the sights of Fort McMurray to get a better idea of the
region's development.
Greg Stringham, vice-president at the Canadian Association of Petroleum Producers, told local news
media that the two men asked the industry body to give a general overview of the oil sands and Canada's
position in the energy world.
Canadian Natural Resources Limited, Canada's second-largest oil and gas firm, was host of part of the
tour at its $9.3-billion Horizon oil sands project, which is currently under development.
Neither CAPP nor Canadian Natural were immediately available for comment.
The visit by Mr. Gates and Mr. Buffett comes as the oil sands are not only attracting greater worldwide
interest - with foreign oil firms such as Norway's StatoilHydro ASA and France's Total SA increasing
their presence in Alberta in recent months - but also gretheir protests against what they perceive to be dirty oil.
Yesterday, a new campaign against the oil sands was launched south of the border, as protesters in
Denver picketed a gasoline station supplied by Suncor Energy Inc.'s Commerce City Refinery, which
processes some crude from Alberta.
The protesters called for a curb on oil sands development to preserve Alberta's boreal forest.
NORVAL SCOTT
August 20, 2008
Source: www.globeandmail.com
two of the world's richest men to the province's oil sands.
At the time of the year when multibillionaires might easily be expected to be sunning themselves in the
tropics, Warren Buffett of the mammoth holdings company Berkshire Hathaway Inc., and Microsoft
founder Bill Gates on Monday instead took in the sights of Fort McMurray to get a better idea of the
region's development.
Greg Stringham, vice-president at the Canadian Association of Petroleum Producers, told local news
media that the two men asked the industry body to give a general overview of the oil sands and Canada's
position in the energy world.
Canadian Natural Resources Limited, Canada's second-largest oil and gas firm, was host of part of the
tour at its $9.3-billion Horizon oil sands project, which is currently under development.
Neither CAPP nor Canadian Natural were immediately available for comment.
The visit by Mr. Gates and Mr. Buffett comes as the oil sands are not only attracting greater worldwide
interest - with foreign oil firms such as Norway's StatoilHydro ASA and France's Total SA increasing
their presence in Alberta in recent months - but also gretheir protests against what they perceive to be dirty oil.
Yesterday, a new campaign against the oil sands was launched south of the border, as protesters in
Denver picketed a gasoline station supplied by Suncor Energy Inc.'s Commerce City Refinery, which
processes some crude from Alberta.
The protesters called for a curb on oil sands development to preserve Alberta's boreal forest.
NORVAL SCOTT
August 20, 2008
Source: www.globeandmail.com