Macquarie enters Canadian Crude….

Yes, the company we all love to hate, Macquarie is back. And this time it is going after crude…. http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/macquarie-enters-canadian-crude-marketing/article1902042/?cmpid=rss1

Totally unrelated, but I predict that we will see Macquarie going after BC Hydro at some point, since public utilities is right up their alley – see Thames Water and Puget Sound Energy. Their close relationship with the BC Liberals is one to be watched.

16 thoughts on “Macquarie enters Canadian Crude….

  1. Pingback: The Progressive Mind » I’m Laila Yuile, And This Is How I See It | “…when you have decided what you believe, what you feel must be done, have the courage to stand alone and be counted”… Eleanor Roosevelt.

  2. Julie

    This is off topic too. Chevron has oil leaking into Burrard Inlet. I understand, there have been some resignations over that fact. I don’t have the experience to research. Has anyone heard of this? It must be serious enough, to cause resignations.

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  3. SB

    No surprises but if an NDP government can be formed next election id say it will be almost impossible .
    The friends of BC Libs have had enough fun and taken enough of our tax money .

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  4. Macquarie may be using our money when they take over BC Hydro. BC Investment Corporation (provincial, teacher, healthcare pensions) and the Canada Pension Plan Investment Board helped out in the multi-billion dollar takeover of Puget Power. That deal is the tip of a giant iceberg. If we had an independent police or honest media in this province, they would have forensic accountants taking apart the links. The people who dictate the policies of the Liberal Government have got every major leadership candidate tamed and compliant. Campbell leaving will do nothing to change the way business is conducted. It will though drop the defenses of BC citizens.

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    1. Laila

      Of interest to many, might be this news item as well :

      http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/snc-lavalin-forced-into-full-ownership-of-altalink/article1903592/?cmpid=rss1

      Macquarie is bailing out of AltaLink and SNC is exercising a right of first refusal to pick up their share,
      making it the owner of the biggest electricity transmission network in Alberta. AltaLink also owns the
      power bridge that allows electricity to be exported and imported to and from B.C……

      SNC of canada line fame… William R Bennett Bridge… and other infamous project involvements.

      Norman I find the investment of pension funds in these projects ironic, considering how many people protest, like myself, the involvement of these companies in such P3 projects, and the concept of P3’s themselve… and yet our elder years depends on them not only continuing, but doing well. Tells you how much of a return the private sector gets on these deals, doesn’t it?

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  5. The issue that smells is political influence. I am reminded of the Teamsters’ pension funds used by organized crime, almost at will. Certain powerful people in Canada have the ability to direct pension funds into captive situations and can earn massive profits by riding the up or down price movements in affected equities. Puget Power might be but one multi-billion dollar example. There too, Macquarie was involved.

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  6. Curt

    “Most of those on strike say that we have discovered that the resources of our country have been stolen by the regime.” (Government and their friends)

    Sound familiar?

    This newspaper is supposed to be the newspaper of the people, not the newspaper of the regime and the government.”

    Sound familiar?

    It’s happening here as well. When are the people, “us”, going to get it?
    The theft occurring right across this great country of ours from coast to coast (BC’s the top of the pack in my opinion), by the corporate elites and their paid for governments. Whether it’s oil, gas, power, water, it belongs to the citizens of this province, this country, not the powerful elites.

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  7. Ron wilton

    Another noteworthy sidebar is that SNC Lavalin is a major infrastructure player/developer via DND in Kandahar Afganistan.(sp) They have been making money hand over fist over there since day one, and interestingly enough, our military extension there parallels the time frame that SNC Lavalin’s ‘contract’ is due to expire.

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  8. Adding to Ron Wilton’s comment. –

    Christy Clark’s link to the Fraser Institute and her senior advisor, Gwyn Morgan, is Chairman of SNC-Lavalin. Morgan has written that we must cut healthcare costs (ie. privatize public service) because it is too expensive to allow just anyone to be treated merely because they need medical treatment. Clark has now bought into the policy. Interesting that Fraser Institute directors serve in every BC Liberal leadership camp.

    http://northerninsights.blogspot.com/2011/02/falcon-clark-and-bc-liberals-phony-as.html

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  9. Laila

    And so it begins. From what I have researched, SNC is no less ruthless than Macquarie in their investments, although looked upon with no less snark although they are Canadian.

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