Myth vs. Fact: Few American Multinationals will Benefit from Canadian Oil Sand

MYTH: Only a few large American multinationals will benefit from Canadian oil sands production.

FACT: At least 2,400 American companies from 49 states are already involved in the development of Canada’s oil sands.[1]  A variety of American companies manufacture equipment and products that are then used in Canada for oil production – everything from engines made in Indiana to tires made in South Carolina.

Comments

  1. Kansun says:

    The question is; what do the Chinese do with the oil that they buy at a dsniouct? The certainly don’t transport it all back to China, it’s too expensive to transport and that would be a waste of money. Most of it gets sold on to trading companies, or oil majors (the people who would have bought the oil from Venezuela in the first place) and it’s the Chinese who pocket the difference. So in the name of not selling to the Yanquees Venezuela sells to the Chinese who sell to the Yanquees anyway and get the profits Does this benefit the Venezuelan people in any way? I don’t think so but it benefits me because I work for one of the companies that buys the Oil from the Chinese. Just to reassure you, Venezuela isn’t the only country that get screwed this way, there are others in South America too.

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