In “Who Benefits? An Investigation of Foreign Ownership in the Oil Sands”, Environmental Defence, Équiterre, and Stand.earth maintain that 70 percent of oilsands production is owned by foreign companies and shareholders.
Berman emphasized the big five oilsands producers—Suncor, CNRL, Cenovus, Imperial Oil, and Husky Energy—are all majority foreign-owned, controlling 60 percent of bitumen production.
“Premier Kenney has used his bully pulpit to attack Canadians that are concerned about the climate and the toxic mess being left behind by the oil and gas industry of somehow being unpatriotic,” she said. “This research shows clearly that the majority of the revenues from the oilsands are going to foreign investors while Canadians are left paying for the cleanup.
Who Benefits? An Investigation of Foreign Ownership in the Oil Sands
Reclamation of the oil sands, conventional oil and gas wells, and pipelines in Alberta will cost an estimated $260 billion and take as many as 3000 years to complete.
“The government of Alberta should stop wasting time and money on war rooms and propping up oil companies like Suncor and CNRL who claim to be Canadian but are sucking this country dry.”