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Sunday, March 12, 2017

Kevin "Shit for Brains" O'Bleary

Alberta oil patch busy doing huge deals, attracting international capital, expanding production

So, Kevin O’Leary wants to “go to war” with Premier Rachel Notley over the Alberta carbon tax because he thinks it scares away capital. Fortunately, the boastful TV capitalist’s claim can be tested.
The same day that O’Leary was headlining a town hall meeting in Calgary organized by the Alberta Prosperity Fund, a conservative political action committee, one of the largest oil sands transactions in recent memory was announced.
Canadian Natural Resources Ltd., which is led by Canadian billionaire Murray Edwards, paid a total of $12.74 billion for oil sands assets of Shell Canada and Marathon Oil. Read the North American Energy News stories on these transactions here and here.
The sale was financed with $5.4 billion in cash, around 98 million Canadian Natural shares currently valued at $3.1 billion, and “fully committed acquisition financing of $9 billion” ($3 billion term loan, up to $6 billion in bridge facility to bonds in US and Canadian debt capital markets) provided by JP Morgan Chase, TD Securities, and the Bank of Nova Scotia, according to the CNRL press release.

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