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Argument: The markets have already determined that oil sands are viable

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Supporting quotations

Gavin Graham. "Maple Leaf Markets. Canadian Oil Sands Still Look Good." Forbes. May 3rd, 2010: "The first column that I wrote for The Income Investor five years ago recommended buying units of Canadian Oil Sands Trust ( COSWF - news - people ). At the time, I commented that although it didn't have the highest yield in the energy sector, the trust had the potential to increase its payout over time. That would lead to an increase in cash flow as well as an upward move in the share price as other investors were attracted to the increasing profits and distributions generated by the company. I am pleased to say that, in this case at least, the theory proved correct. I recommended COSWF at $16.85 in March 2005. At the time the units paid a quarterly distribution of 10c, or 40c per unit annualized. Although there have been ups and downs along the way, the current distribution has more than tripled to 35c a unit, while the share price has almost doubled to $30.35 (price as of April 30). This compares favorably with both the broader stock market, where the S&P/TSX Composite Index has risen by less than 35% since March 2005, and with the Energy Trust Index, which has actually fallen over the same period."

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