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Are the Oil Companies Safeguarding Your Investment?

December 2, 2009

Interior of Indian-made pipe used in the Keystone pipeline

A new report analyzes the potential risk of companies that extract oil from the Alberta tar sands (a.k.a. “oil sands”).

Why did Northwest & Ethical Investments L.P, National Union of Public and General Employees, and Ceres bother? In their own words:

As more companies enter the oil sands, and the contribution of oil sands to company reserves increases, more investors are becoming exposed to these risks, and the level of their exposure is increasing.

Tar sands oil is scheduled to begin moving through the Keystone pipeline early next year. Counties along the Keystone pipeline route in South Dakota may be interested in South Dakota Public Utilities Commissioner Steve Kolbeck’s assertion that only one county has had “much trouble.”

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