According to the Financial Post, one of Canada’s most valuable resources, the Alberta Oil Sands, are to have an increased in foreign investment soon. Analysts believe that this move can help eliminate the Oil Sands labour shortages by filling open jobs, now that many people from the “Baby Boom” era are retiring.
Fort McMurray is the business hub of the Oil Sands
When foreign companies invest in Canada with investments they must follow Canadian law. These companies must also keep in mind how the Canadian public views the Oil Sands. The Oil Sands are a huge part of Alberta’s economy, and a crucially important aspect in the future of Canada’s economy. A lot of money can be extracted from the Oil Sands. However, the flip side to that argument is environmentally-related. Extracting oil from the Oil Sands does tremendous damage to the environment with the fumes that are released into the atmosphere. A potential threat of having too much foreign involvement is that foreign investors will want the money that they can earn through their investment, without due regard for the environmental effects resulting from the extraction.