So what if the oil sands are mostly foreign owned? What difference does it make? The oil industry is international and always has been.

The resource stays here, regardless of who owns it. The jobs are here, the royalties and taxes are paid to Canadian governments and the economic spinoffs accrue to manufacturers and suppliers across the country. If the profits of oil sand investment go abroad, that's the price we pay. For well over a decade after foreign investors began building the first oil sands plants, they ate huge losses.

It must be pointed out that Canadian companies have major foreign operations and earn $Billions in profit for Canadian shareholders (and taxes paid here in Canada). Some are among the most innovative and entrepreneurial oil companies in the world. Canadian Natural Resources is the 34th biggest oil company in the world, and operates in the North Sea, West Africa and elsewhere. Talisman is active in the US, Columbia, Scotland, Peru, Algeria, Tunisia, UK, Norway, Indonesia, Malaysia, Vietnam, Australia, and Qatar. Encana, Canada's biggest gas producer, is a major producer in the gas fields of the US plains and South. Niko pioneered the production of large natural gas fields offshore India and has made major offshore discoveries in Indonesia. Pacific Rubiales, a Canadian company, is the largest independent oil and gas producer in South America. There are dozens more examples.

It's laughable to hear Minister Kent decry foreign money being used to support anit-oil sands environmental groups while foreign oil companies can spend freely for their agenda. Without doubt large multi-national oil companies are among the most predatory corportations in the world and have very deep pockets when it comes to buying influence and politicians. Yet, Mr. Kent labels environmental groups as criminals. Who are ther real criminals? Just another example of ther Tories to use inflammatory language to hide what the truth is. Mr. Kent cares more for the interests of large multi-national oil companies than for the development of Canadian oil resources for Canadians.

Now correct me if I'm wrong. Doesn't manufacturing have and even higher overall foreign ownership about 50%, in fact if breakout the auto industry is as high or higher than the oil sands?

Ironic that HuffPost Canada is carrying a story about total foreign ownership of Canada, when HuffPost Canada itself is totally foreign owned, by Americans, and, recently bought by AOL.

There are no independent news sources anymore, all news sources on this sad planet are owned by just a few Global Corporations.

> "welcome to the serfdom of the global corporations", "Governments love free trade and open borders for big corporations. But when it comes to individuals, governments put up borders to restrict our freedom"

In the 1930s it was called [Corporate] National Socialism - Nazi Germany's attempt along with Italy and Japan, et cetera, to take over the world.

But 70 years ago the Allies side was no better.

World War II must finally now be understood to NOT have been a mass killing and dying of "freedom and democracy" verses "totalitarian dictatorship", but in fact millions of stupid people on one side killing millions of stupid people on the other side -

to decide which group of Global Corporations was going to rule the world for the next 1,000 years.

Today it should be called what it is - [Corporate] Global Socialism, or [Corporate] Global Neo-Nazism.

" It says more than forty per cent of the profits from oil and natural gas in Canada goes to foreign owned companies." Albertastans are so proud that they refuse to think about their future with their resources! They keep re-electing the "Dumb Doras" that are robbing them blind! What is the one thing you can do for future generations in areas like health care, education, etc. It is set up a fund like the Norwegians have with their irreplacable resources not like albertstans "heritage fund" . Norway came into the fund 10 years later and now has a fund of almost 600 BILLION $$$$$, albertastan has a fund of 14 billion $. Where did the rest of the money go? South like the migrating geese. Wonder if Norway accidently protected their environment as best they could or are they Earth Pigs and to Hell with the rest of the world. You gotta love those smart americans as they fly to their pristine homes away from the crap they leave on your back door. In case This is gets through the moderators I apologize to Dora1

. Every one of Harpers Corporate Tax rollbacks, emptioes Cdn Gov't coffers empty just a wee bit more & places a larger burden on the middle class.
Meanwhile Stateside, That money in turn goes to the Global Bottom lineof these US based firms & the US Government applies it's tax on their Global operations .

Last time I checked it was a rate of about 35%, less what they pay in the respective 'Foreign'Countries' in which they operate.

So in essence, when Harper cuts their tax buy 2%, it simply translates into a bigger share for US Government on what is said to be a finite Cdn resource.

I'm sure future generations will look on Harper with great admiration...American generations that is.

What a Patriotic 'Governor' !

"ForestEthics Advocacy has also been criticized for accepting foreign funding."

Canadian Press writers to be are criticized for accepting paycheques by bosses who direct them to toe the talking points spread by the PMO and PCO and Tory "brain"-trust.

"Ethical Oil has also been criticized for accepting even MORE foreign funding than ForestEthics" should be in this article.

Fact is that big corp is owned by shareholders and that their profits benefits them. Those shareholders can be anyone, anything and everywhere. Probably most of them outside of Canada. The governments of AB / SK and Federal, can skim off their profits just a little more more, if they wanted to. This is not really politically doable under the current governments. It takes guts and long term vision. And of course, big corp will protest. But they will also swallow it because the resources cannot be moved. So, more in the government's pockets (yes a bit more social) means more to spend for education, more for health care and more for cleaning up the mess that big corp makes. There is more than only the money as we all know. In the end, we can't take it with us but we need to get some decency in to the system. The best thing is to very gradually step up the tax load on big corp. Yes, this will lower dividends but the dividend receiver is likely another big corp, and not the little man. Canada is a project. A work in process and a little enlightenment in this context is perhaps a good thing.

This article is such a joke.

Oil companies are publically traded companies and major corporations invest all over the world. Everyone who has a CDN equity mutal fund owns shares in oil companies. Quebec, one of the biggest finger pointers, defenders of environment and critics of resource development have billions invested in oilsands companies and Enbridge (bet they hope the Gateway gets built....as it will up their return)

http://www2.macleans.ca/2012/02/15/quebecs-pension-fund-a-proud-enbridge-shareholder/

These companies provide thousands of families from coast-coast with jobs, pay billions in royalties and taxes which fund federal and provincial CDN social programs. All CDN's benefit from CDN resource development, even the hypocrites.

We see how they cheat Canada with by selling oil under the world market price to their US clients, under the guise that there is a local excess - yet it is all sold.

This is in fact illegal transfer pricing because the downstream products are sold at full price.

It is a way to cheat the provincial government and the federal government out of their taxes and royalties.

Here's what pisses me off. When it comes to big corporations, there are practically no borders in the world; corporations can profit from the natural resources in any country they want, they can move money and profits to any country they want, they can outsource the work to other countries, they can export their products to where ever they choose. Governments love free trade and open borders for big corporations.
But when it comes to individuals, governments put up borders to restrict our freedom of movement. An individual can't just live anywhere in the world, work anywhere in the world, and explore the globe freely on their own time frame.

Looks like Foreign investors are smarter than the rest of us. Good for them.