Foreign corporations, some controlled by national governments, have been using their economic clout to buy into Alberta's oil sands and take control of our natural resources.
U.S., French, British, Chinese, Thai, Korean and Norwegian interests have all bought stakes in oil-sands projects. According to the Canadian Association of Petroleum Producers (CAPP), international companies have invested nearly $20 billion in the last three years through mergers, partnerships and outright purchases of projects.
This increased foreign investment raises questions. Who has the right to develop our natural resources? Who sets the rules for how these resources are developed? Who controls where the resources are processed and sold?
One of the most recent major international investments came in November 2010, when Thailand's state-owned PTTEP bought a 40-per-cent stake in Statoil's Kai Kos Dehseh project for $2.3 billion. Statoil is a Norwegian company whose largest...