Chinese Investment in Alberta s Oil Sands. Exploring Opportunities and Challenges. Conference Summary Report
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1 Chinese Investment in Alberta s Oil Sands Exploring Opportunities and Challenges Conference Summary Report I. Event Agenda and Objectives Supported by the Alberta Rural Development Network (ARDN), MacEwan University s School of Business, Institute of Asia Pacific Studies, organized a networking event entitled Chinese Investment in Alberta s Oil Sands: Exploring Opportunities and Challenges. The event was held on October 25 th, 2012 and discussed the opportunities and challenges that are emerging with Chinese investments in Alberta oil sands. Event speakers included Prof. Lianyong Feng from Petroleum University of China; Chief Wilton Littlechild, Commissioner of Truth and Reconciliation Commission of Canada; and Mr. Neil Reddekopp from Ackroyd LLP. The Conference focused on Chinese energy strategies in the Alberta oil sands and the impacts on local communities and stakeholders, especially the Aboriginal community. As well, the conference facilitated dialogue between different stakeholders of Alberta oil sands explorations, and cultural understanding. Prof. Feng pointed out the challenges and opportunities to Chinese oil enterprises investing in Alberta oil sands, with respect to the effects on the Aboriginal community, stating that Chinese oil enterprises need to reinforce their systems of corporate social responsibility, tighten supervision in the process of oil sands investment and exploration, and understand and resolve the concerns of Aboriginals. Prof. Feng also suggested that a healthy collaboration between Chinese oil companies and their Canadian counter parts depended on a mutual understanding. The first step to achieving this goal is to open doors for more academic exchanges, and collaboration between NGOs and industry associations. These efforts will bridge further energy and economic cooperation; establish Chinese oil enterprises as reliable, honest, and transparent companies; and clear up any misunderstandings about Chinese enterprises by the Aboriginal community. Chief Wilton Littlechild spoke on the economic benefits and challenges that Chinese investment in Canadian oil sands poses to the Aboriginal community. He proposes a supervisory mechanism that would allow the Aboriginal community to participate in the decision-making process of Chinese investment in Alberta oil sands. He suggests that giving the Aboriginal community a voice that honestly reflects their concerns will ensure that oil sands activities represent their interests. Mr. Neil Reddekopp talked about Alberta oil sands investment and the Aboriginal community from a firsthand experience. He pointed out that Canadian Aboriginal people still have doubts and concerns about Chinese oil corporations entering Alberta s unconventional energy sector for four main reasons: 1) doubts remain about whether Chinese companies entrance will compromise Canada s energy sovereignty and endanger the entirety of the Canadian oil sands industry; 2) there are beliefs that exploration and extraction technologies of Chinese oil companies will compromise the environment of Aboriginal territory and harm 1
2 the health of the people; 3) political, religious, and cultural differences result in skepticism of Chinese companies; and, 4) concerns arise over the possibility of an increased energy exporting pressure due to China s increased demand for Canadian oil. II. Key Issues Indentified The Harper government approving the Nexen acquisition on December 7 th, 2012 is great news for the China National Offshore Oil Corporation (CNOOC), but the acquisition raises some new challenges on CNOOC s future development in Canada. Harper also announced that there would be major modifications to the Investment Canada Act that future foreign investments would face stricter evaluation. With existing suspicions and objections against Chinese companies, the government would be forced to exam Chinese investments with a fine-tooth comb. Under these circumstances, Chinese companies need a new mindset, new methods, and new approaches to excel. Therefore, we propose to lay to rest concerns by the Canadian government and the public against state-owned Chinese oil companies. 1. Issues of Chinese Oil Companies (1) There are objecting voices in the public against Chinese oil companies entering Alberta. In recent years, the feeling of a Chinese threat still exists in Canada, advocating that Chinese investments in Canadian oil sands violate the entirety of domestic energy independency, and threaten Canadian energy security. For example, Sinopec holds 9.03% of Syncrude shares and CNOOC has a 7.23% stake in Nexen, which is alarming to certain people. However, so far there is no hard evidence of Chinese investments in Alberta threatening Canadian energy security, only speculation. Collaboration is a win-win situation for both countries. (2) Chinese companies lacking in mergers and acquisition (M&A) experience and with less mature strategic planning and management skills expose themselves to risks, such as incomplete information, legal dilemmas, and cultural conflicts during their overseas investments and developments. These risks are some of the common contributors to M&A failure or underperformance. Meanwhile, Chinese companies also face several traps during overseas investment and developments, such as information inequality, competitor sabotage, debt traps, and management obstacles. (3) Chinese companies are wildly criticized in their little effort to fulfill their social responsibilities. China National Petroleum Corporation s (CNPC) tardiness and untransparent clean-up of Bohai Bay oil spill led to legal action in the U.S. by investors. Sinopec was found to have more than fifty safety violations in a safety inspection at one of its Alberta sites in These incidents have resulted in Canadians low confidence in Chinese oil companies ability to fulfill their social responsibilities. 2. Issues of Canadian Oil Sands Industry (1) Insufficient pipelines and infrastructure undermine the potential of Canadian energy development. The current pipelines in western Canada are operating close to their maximum capacity, so additional transportation ability is desired with the increasing energy production. However, the corresponding expansion of the existing system and construction of new 2
3 pipelines face multiple challenges from the route selection to environmental impact mitigation. In many cases, the reviewing processes by regulatory authorities can involve numerous stakeholders and take a very long time. (2) Oil sands explorations raise environmental issues. The oil sands industry has not properly responded to environmental concerns for years, causing discontent in government and local communities. (3) The Aboriginal community s interests require more attention. Many oil sands deposits are located in or near Aboriginal territories. The Canadian government has not yet established concrete supervisory protocols to regulate the impact of exploring activities on Aboriginal people. Even though Alberta has a complete set of regulatory systems for oil sands exploration, the system is not very applicable to exploration activities on Aboriginal territories. Aboriginal rights are only reached through negotiations and signed agreement with government and oil corporations. These agreements, involving compensation for land use, skill development for local workforce, shared business opportunities, and mitigating social impacts, are usually very sophisticated. 3. Issues of Canadian Aboriginal People Canadian Aboriginal people are an at risk population because of the prevalence of low income and high unemployment. Their disadvantage in the job market is exacerbated by poor access to education and discrimination in the workforce. Furthermore, the outcomes from colonization, cultural persecution, and a lost heritage have contributed to a higher than average rate of depression, alcohol addiction, suicide, and violence. Canadian Aboriginal people who live off reservations generally have crowded housing environments and move frequently. These challenges contribute to an unstable domestic environment. The social economic development of Canadian Aboriginal communities faces some challenges: they are entitled to some land, but cannot use it at will; their environment is severely damaged due to continuous industrial activities in surrounding areas; and government and corporations offer compensation after industrial hazards have occurred rather than preventing issues from happening. Implementation of preventative mechanisms to balance the relationship between environment preservation and oil sands exploration is very much desired. Some of the existing legislation targeting Aboriginal people violates their rights and confines their economic development; some even dictates their social activities, such as requiring Aboriginal children to attend boarding schools. The legislation shows bias against Aboriginal people. By promising certain social benefits, the government, ironically, interferes with Aboriginal people s development. The interaction between Chinese oil companies and Aboriginal people increases as the Chinese investment in Alberta oil sands increases. Oil sands investment and exploration as well as extraction bring opportunities for economic and social development to the Aboriginal community, but also create problems for them. Aboriginal communities typically hold a negative attitude towards Chinese companies, because these companies often have a track record of social irresponsibility which exacerbates the community s more general concern for environmental and health issues caused by oil sands extraction. 3
4 III. Recommendations 1. Recommendations for the Canadian Government (1) The government should consider increasing financial, technological, and regulatory support for foreign investment activities. For projects that are beneficial for Canada, the government should hold a fair and objective attitude, and review the projects independently. (2) The government should consider tightening the supervision of overseas investment activities by big oil corporations. At the early stage of the projects, the government should carefully review their feasibility and the potential economic and environmental impacts. When the projects are approved, it should supervise the projects to be executed in an orderly fashion, and strengthen its supervision of pipeline construction and oil sands exploration to prevent pipeline leakage and environmental issues, especially those caused by the use of tailing ponds. The progress of the projects should be disclosed periodically, allowing the public to participate in the supervision. After the project is finished, the government should also conduct follow up investigations, to ensure any mechanical malfunction or environmental issues can be dealt with in a timely fashion. (3) The government should consider initiating more collaboration with NGOs and academic institutions, and heighten transparency of extraction activities by creating a higher degree of public supervision. The government should also encourage studies and discussions among academics. 2. Recommendations for Chinese Oil Companies (1) Chinese oil companies should reduce their dependency on their government to become independently operated, international corporations. (2) Chinese oil companies should improve the transparency of their overseas investment projects, and be subject to a broader range of public supervision. Besides interested parties, Chinese oil companies should work with industry associations, NGOs, and academic institutions as supervisory groups to participate in overseas investments and explorations. (3) Chinese oil companies should improve their management and establish a social responsibility system to respond to issues like preventing pipeline leakage, proper disposal of tailing ponds, reducing carbon emissions, protecting ecosystems affected by exploration sites, and reducing impact on Aboriginal communities. They should also focus on follow-up in the final stage of project development. (4) Chinese oil companies should contribute more to the local public welfare to improve their public image. (5) Chinese oil companies should give high priority to environmental protection, social responsibility, and corporate governance in their overseas investments. (6) Chinese oil companies should improve communication with Aboriginal communities to better understand their concerns and demands. Since oil sands explorations are long-term processes, obtaining approval and support from the Aboriginal communities is essential to smooth operations. 4
5 3. Recommendations for Aboriginal Communities (1) Aboriginal communities should communicate proactively with the government and big oil companies, present their thoughts and ideas frankly, and convey their requests fairly. Aboriginal people have the first-hand knowledge of the environmental features of their territories. They should fully realize this advantage, and get actively involved in the planning, discussion, and decision-making processes of oil sands activities to improve exploration and extraction efficiency and mitigate potential threats. (2) The Aboriginal communities should establish a comprehensive management body in order to provide guidance and a transparent, consistent, and orderly involvement in oil sands supervision. (3) Aboriginal people should remain open-minded towards the outside world, and initiate cultural exchange with Canadian and foreign peoples to raise their voice. 4. Recommendation for ARDN (1) This conference has opened dialogues, but the Aboriginal people have a relatively lower involvement in the discussion. The government and Chinese oil companies also have limited involvement. ARDN should support follow-up meetings on a bigger scale for the next stage, inviting a larger number and more influential representatives from the public and private sectors, and from Aboriginal communities to discuss issues and solutions for China and Canada s collaboration for oil sands exploration and extraction. References [1] Lianyong Feng. Sino-Canadian Energy Cooperation: Challenges and Opportunities of Chinese Investments in Oil Sands, October 25, [2] Chief Wilton Littlechild. China s Energy Strategy in the Oil Sands: Economic Challenges and Opportunities for Indigenous Peoples, October 25, [3] Neil Reddekopp. Chinese Investment in Alberta s Oil Sands: A First Nations Perspective, October 25, [4] Nathan Cardinal. The Exclusive City: Identifying, Measuring and Drawing Attention to Aboriginal and Indigenous Experiences in an Urban Context, May [5] Roger Harris, Anshuman Khare. Sustainable Development Issues and Strategies for Alberta s Oil Industry. Technovation [J], 5 June
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