Oil Rig -- Image from CP

By Connor Gunn

Report confirms over $300 million in foreign funding used to halt Alberta oil and gas development

Oct 21, 2021 | 12:07 PM

EDMONTON, AB – The public inquiry into anti-Alberta energy campaigns confirmed that hundreds of millions of foreign dollars were used to block the province’s oil and gas development.

A release from the province states that “its final report shines a light on the sophisticated, coordinated and well-financed campaigns – such as the Tar Sands Campaign.”

The report found that between 2003 and 2019, the total foreign funding of Canadian-based environmental initiatives was $1.28 billion.

It found that proponents for these campaigns celebrated cancelled and vetoed projects.

Groups have taken credit for more than 1,000 divestments made by finance and insurance companies representing $8 trillion of investments.

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“This includes seven campaigns specifically targeting divestment in the oil sands, including the SumOfUs campaign that targeted the Trans Mountain Pipeline, Keystone XL, and the Teck Frontier Mine,” the release reads.

Energy Minister Sonya Savage, says another finding was that these environmental groups operate with limited transparency and accountability compared with regulated public companies.

“We need to take the report’s findings, learn from the tactics employed, and ensure that foreign funding does not target the development of the emerging energy resources, including hydrogen, carbon capture, utilization and storage, critical and rare earth minerals, small modular reactors and LNG, which are needed to reduce emissions and diversify Alberta’s economy.”

“They need to be able to grow and compete in a world that is moving towards lowering carbon emissions. These campaigns will likely set their sights on these emerging areas in the energy sector. It is money looking for a cause. This government will not allow this critical sector of our economy and jobs to be influenced by foreign-funded campaigns,” Savage adds.

To view the full report and its finding, go to Inquiry report: Key findings.