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CEO asks big oil for ELA funds

Says water research important to the sector

By: Geoff Kirbyson

Posted: 06/20/2012 1:00 AM | Comments: 0

A Winnipeg-based money manager with ties to the federal Conservatives is going to bat for the Experimental Lakes Area.

After hearing the renowned freshwater and fisheries research facility near Kenora had its funding revoked by Ottawa, Tim Burt, chief executive officer of Cardinal Capital Management, wrote a letter to the heads of six leading Canadian oil companies.

As developers of Alberta's oilsands, companies such as Suncor Energy, Cenovus Energy and Imperial Oil need to be particularly aware of the potential environmental impact of their work on both air and water, Burt said. (The processing of raw bitumen requires large quantities of fresh water.)

Stepping up and funding the ELA might be a way for the oil companies to counter the negative press they have received of late and build up some goodwill with the public, he said.

This isn't a new concept, Burt noted, as the ELA received funding through oil companies back in the 1970s when federal money was unavailable.

"I would like to recommend that your companies consider this new opportunity to support the ELA and the important work they do to protect freshwater resources," he wrote.

A month ago, the federal government announced plans to pull $2 million in annual funding from the unique aquatic research area, which employs 17 scientists and others working on the ELA program as employees of the Department of Fisheries and Oceans. ELA funding is set to expire at the end of this year, but the Harper Tories say they are looking for an alternative organization to fund the ELA, such as a provincial government or the private sector.

Burt, who is riding association president for Conservative MP Joyce Bateman (Winnipeg South Centre), said he thought this would be a great chance for the oil companies to show their commitment to the environment and be seen in a more positive light by Canadians in terms of being good stewards of the country's natural resources.

"One way they can do that is to support the ELA. It's not a lot of money. If four or five of these companies coughed up $500,000 for the next 10 years, they'd have it covered," he said.

Burt added there is no political motive behind his letter.

Unlike many Manitobans upset about the ELA funding being revoked, Burt is able to put money where his mouth is. Cardinal manages $1.7 billion dollars in assets, including more than $220 million in oilsands companies.

"I felt ELA, for Manitoba and Winnipeg, is an important project. Almost all of those scientists live in Winnipeg. A lot of jobs are at stake. The economic strength of Western Canada, in particular, depends on those jobs and those industries thriving. (The cutbacks) really affect us more than Toronto or anywhere else in the country," he said.

Burt sent his letter off a few days ago but said he hasn't had any response from any of the recipients. In addition to Suncor Energy, Cenovus Energy and Imperial Oil, he also sent it to Shell Canada, Canadian Natural Resources and Canadian Oil Sands.

geoff.kirbyson@freepress.mb.ca

Republished from the Winnipeg Free Press print edition June 20, 2012 A4

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