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Stelmach welcomes investors, on his terms
Calgary -- Ed Stelmach, Alberta`s Premier, knows what it would take for him to push Ottawa to block a takeover or investment deal in Canada`s oil sands, and he also knows what he wants from China in exchange for oil. He`s asking for more than just cash.
Mr. Stelmach has welcomed foreign investors, including state-owned outfits from China and Korea, into Alberta. But he also backed Brad Wall, his Saskatchewan counterpart, as he insisted BHP Billiton PLC keep its Australian-Anglo hands off Potash Corp. of Saskatchewan Inc. last fall. With potash being as valuable to Saskatchewan as bitumen is to Alberta, the Saskatchewan Premier pushed the federal government to kibosh the hostile takeover. Prime Minister Stephen Harper complied.
`We have many, many investors in the oil sands, from many different countries, including many state-owned enterprises,` Mr. Stelmach said in a recent interview. `Let`s say if one company, whether it be state-owned or not, but one large company wanted to buy everybody out, I can assure you that we wouldn`t allow that to happen because it would not only affect production ... but also royalties.
Read the full article here.
Calgary -- Ed Stelmach, Alberta`s Premier, knows what it would take for him to push Ottawa to block a takeover or investment deal in Canada`s oil sands, and he also knows what he wants from China in exchange for oil. He`s asking for more than just cash.
Mr. Stelmach has welcomed foreign investors, including state-owned outfits from China and Korea, into Alberta. But he also backed Brad Wall, his Saskatchewan counterpart, as he insisted BHP Billiton PLC keep its Australian-Anglo hands off Potash Corp. of Saskatchewan Inc. last fall. With potash being as valuable to Saskatchewan as bitumen is to Alberta, the Saskatchewan Premier pushed the federal government to kibosh the hostile takeover. Prime Minister Stephen Harper complied.
`We have many, many investors in the oil sands, from many different countries, including many state-owned enterprises,` Mr. Stelmach said in a recent interview. `Let`s say if one company, whether it be state-owned or not, but one large company wanted to buy everybody out, I can assure you that we wouldn`t allow that to happen because it would not only affect production ... but also royalties.
Read the full article here.