Power denies meddling on energy
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Hey there, time traveller!
This article was published 14/05/2011 (5510 days ago), so information in it may no longer be current.
MONTREAL — Power Corp. of Canada is denying a U.S. diplomatic assessment that it attempted to sway Quebec’s energy policies in a bid to soften the province’s criticism of Ottawa.
“No one from our family and/or the corporation has spoken to Premier Charest’s office and/or him and/or any government official of any type on these matters,” deputy chairman and co-chief executive Andre Desmarais said Friday after its annual meeting.
In a 2009 diplomatic cable intercepted by Wikileaks, the U.S. ambassador to Canada questioned if Jean Charest was influenced by the owners of Montreal’s La Presse newspaper to tone down his comments against the federal government during the Copenhagen climate summit in December 2009.
Ambassador David Jacobson also noted in the dispatch that Power Corp. is the largest shareholder in a French company that had invested US$6 billion in the Alberta oilsands. Power also owns Winnipeg’s Great-West Life and Investors Group.
Desmarais added that Power doesn’t use its newspapers to lobby on issues, including its interests in oil sands, shale gas, its oil and gas company Total and French Energy company GDF Suez.
When asked by government, the wealthy family offers its views on subjects just as any citizen might, Power chairman Paul Desmarais Jr. said. He called it “almost petty” for people to suggest that the corporate titans try to either line their pockets or influence political leaders.
Meanwhile, Desmarais said its oil and gas company Total is not involved in shale gas exploration in Quebec. Its only role is to assess the potential.
Power continued to profit from the economic recovery by increasing its net earnings nearly 31 per cent in the first quarter. I t earned $216 million attributable to participating shareholders or 47 cents per diluted share for the quarter ended March 31, compared with $165 million or 36 cents per diluted share a year ago.
— The Canadian Press