Pension plan to invest in oil sands
According to the Financial Post, the Canada Pension Plan Investment Board announced it was making a $250-million private placement in Laricina Energy Ltd, a Calgary-based company that has a portfolio of oil sands assets that range from properties in the McMurray formation as well as sites near Grand Rapids and Grosmont. With this investment CPPIB now owns a 17.1% equity interest in the company.
The oil sands are definitely a divisive issue both here in Canada and abroad. I wonder how ordinary Canadians would feel about these funds possibly being placed in a company that they might not agree with...
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