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India to Plow US$1 Billion into Oil Sands

1 February 2006

Globe and Mail. India plans to invest US$1-billion in Canadian oil sands assets over the next 12 months, according to M.S. Srinivasan, secretary of India’s Ministry of Petroleum and Natural Gas.

As many as four Indian companies are looking to invest in the region, with an eye to early-stage developments, said Srinivasan, who was heading an Indian delegation on a visit to Calgary.

India is not worried its plans will put it into head-to-head competition with China in vying for oil sands assets, according to the secretary.

“There are countries where opportunities are extremely limited, the window of opportunity is limited. There, some competition is unavoidable,” Mr. Srinivasan said.

“But when opportunities are presenting themselves on a much larger scale, then there’s room for everyone. I don’t think there’s going to be unhealthy competition.”

February 1, 2006 in India, Oil sands | Permalink | Comments (6) | TrackBack (0)

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With Chinese, Indian, American, Japanese, other International Oil Co, + Canadian interests all digging in Alberta Oil Sands + a new PM from Calgary, Canada will certainly have a major boom in all kind of tar sand pollution. The time is ripped for a hefty pollution tax ($25/barel) to pay for the major clean ups required after those people are gone. Unfortunately, no money can pay for the enormous air and water pollution created. A major environmental disaster is at our doorstep if we don't wake up in time to stop it. It is already bad enough and will get much worse when all the newcomers start their operation. The rush for BLACK GOLD is on. Alberta, Western Canada and USA Mid-West will have major increase in pollution for years to come. Alberta's landscape and wildlife is being massacred and will never be the same. A visit to Tar Sands extraction sites is very instructive. Take a drive up there and have a good look around. It will change your opinion on the potential benefits.

No need to drive there and cause pollution. 60 minutes covered this topic and did a fly over the sands in a helicopter.

Rumor has it that Canada will pull out of Kyoto under the new government. Given Canada's oil sands development, that's no surprise. And I thought our neighbors to the North were more enlightened than we were. Greed has no national boundaries, apparently.

There wasn't a hope in hell that Canada was going ever meet it Kyoto commitment anyway. It was just a party trying to stay in power. It's just more of the same. Liars always seem to get elected.

"Liars always seem to get elected."

This is a human condition. Someone did a tv news study
with 4 years olds, it was shown those kids who bossed around
were good at lying. So it is requirement to be the high school quarterback
you have to be good at lying.

anno¨: Some people have to smell and touch it to believe it. A visit is justified for most of us. You may go by bus or rail to reduce associated pollution.

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