Quote of the Day: Marcel Coutu Buries Head In Oil Sands
Marcel Coutu is CEO of Canadian Oil Sands Trust, which owns 36% of Syncrude. He tells the Globe and Mail where Canada's priorities should be:
"What we have to do is prioritize what is most important to the economy and our quality of life. At the end of the day I don't think there is a single element of our economy that is more important than energy."
He also played down the oil sand's contribution to the climate change problem.
In a meeting with The Globe and Mail's editorial board, Mr. Coutu played down the oil sands' contribution to the country's climate change challenge. He noted the vast majority of emissions occur in the consumption of energy - driving cars, flying airplanes, heating homes and commercial buildings - rather than in its production.
No doubt he has the ear of the government, who would probably agree with Coutu's statement that emission limits would
"put a very, very heavy burden on a business that is [in] a growth mode" and is a key engine of the Canadian economy"
Perhaps while Coutu is in town he should have lunch with Jeff Rubin, who says:
"You know you are at the bottom of the ninth when you are schlepping a tonne of sand to get a barrel of oil"
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