Pension plan to invest in oil sands

Where would you like your pension money to be invested in?

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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