Two of the world’s richest man has come together to pay Canada Alberta’s Oil Sands a visit, leading to speculation that they are going to invest in fuel.
Canadian Natural Resources, Canada’s second-largest oil and gas firm, hosted part of the tour at its $9.3 billion Canadian (US$8.7 billion) Horizon oil sands project, which is currently under development.
Major oil companies are rushing to exploit Alberta’s oil sands, which make Canada one of the few countries that can significantly ramp up oil production amid the decline in conventional reserves. Industry officials estimate the region could yield as much as 175 billion barrels of oil, making Canada second only to Saudi Arabia in crude oil reserves.
Due the fact that the two had toured the region made the shares of two major oil sands players jump. Suncor Inc, Canada’s oldest oil sands company, gained C$3.62 to close at C$59.89, a jump of 6.4 percent. Canadian Natural Resources rose C$6.13 to C$88.40, a gain of 7.5 percent in trading of nearly 7.5 million shares.
via Herald Tribune
Chuck Miser says
Bill and Warren are two very smart guys. I wish they had gone to a geo thermal or solar panel maker instead. The longer we wait to start moving towards non oil fuel sources the longer we are going to be dependent on oil. Bill in particular with Steve Jobs were responsible for the last major leap of man kind I would like to see them lead the way towards a Back to the future 2 kind of fuel sorse revolution to make life better for everybody and everything on the planet.
Bill and Warrens partnership in the Bill and Milinda Gates foundations should be applauded and encouraged.
Well said, well said.
Like you said, renewable energy is the way to go and it would be great to see influential people like Bill and Warren to make an impact in that area.
Human race needs to stop relying on fossil fuel, starting from now!
Chuck Miser says
I really wish more people were into this. two days ago I was scuba diving in Bali and one of the guests was talking about cement being a large contributor to CO2 emissions something I was unaware of and she was talking about some of the ways to lessen the impact, see http://www.ecosea.com/blog/ for more on that.
We also talked about green roofs and other ways that people can make a difference. I thought one way to lessen the impact we all have is to reduce the excessive packaging that every thing we buy seems to be over engineered with I wonder what would happen if everyone went into the stores and when they are buying stuff take it out of the needless excess packaging and leave it for the stores to deal with. I bet they would put real pressure on the vendors to cut down on this mostly unneeded plastic production which is made from oil as well.
Thanks again for a great blog!
Good points there. It comes down to greed and survival in the end.
I agree with dumping uneccessary pakaging but retailers, sales and marketing people will probably disagree. There are people who are happy to earn there penny at the expense of wasting materrials and they call it “adding value to the process chain”!