Tuesday, June 26, 2007

Oil Companies borrow 3.2 billion on your behalf.

Oil Sands Companies borrow 3.2 billion dollars for oil sands projects. Why not use their money? They are sitting on many times that amount. It is less than a quarter’s profit.

If they use their own money they cannot deduct it from the cost of the Oil Sands. However they can collect interest on their own money and bank it while taxpayers pay for the loans they make for use in the tar sands.

Wonder why we are going broke in this province?
http://www.canada.com/edmontonjournal/news/business/story.html?id=05ce7596-7b4d-4c09-afa2-382e452ce44a

John Clark
cyberclark@shaw.ca
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