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Although the former CEO of Shell Canada, Clive Mather, estimated Canada's reserves to be 2 trillion barrels (320 km3) or more, the International Energy Agency (IEA) lists Canada's reserves as being 178 billion barrels (2.83×1010 m3).[4]
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. MPs add voice to calls for caution in Arctic - FT.com
A cross-party committee of MPs has called for a moratorium on oil and gas drilling in the Arctic, in a sign of mounting opposition to such operations in one of the world’s last great wilderness areas.
Dave Tuccaro of the Mikisew Cree First Nation, shown at his home in Las Vegas on Saturday, is quite possibly Canada’s wealthiest aboriginal businessman.
By his tally, native-owned and controlled corporations now count more than $1-billion in annual revenues from the oil sands. Companies run by just three bands – the Fort McKay, Mikisew Cree and the Athabasca Chipewyan – bring in more than half a billion a year, while Primco Dene Ltd., a fast-growing oil patch services company owned by the Cold Lake First Nation, says it will employ 700 people, more than 500 of them aboriginal, this winter.
“We’ve become an economic force. We’re respected now, where in the past people would look at us and say, ‘You don’t know how to do this,’ ” Mr. Tuccaro said.
His ambitions are increasingly shared among first nations, which have quietly embraced both the wealth generated by the oil sands and the substantial effort that energy companies have placed into boosting and building aboriginal businesses.
