Canadian energy shares have reportedly risen as much as 7.5 percent since Microsoft billionaire Bill Gates and world’s richest man Warren Buffet “secretly” toured oil sands properties by Helicopter this week.
This visit Tuesday was arranged by $6-billion-year oil sands contractor Kiewit Corp., newspaper the Globe & Mail reported. Kiewit’s board includes its former chief exec, Walter Scott Jr., an old classmate of Buffet’s back in Omaha, the newspaper wrote, citing Forbes Magazine profile.
Buffet and Gates’s air transport toured Canadian Natural Resources’s $9 billion Horizon Oil Sands project and other area oil and gas assets.
Past and present oil sands players include Athabasca Oil Sands Project, ConocoPhillips, Devon Energy, EnCana, Imperial Oil, Oil Sands Trust, Petro-Canada, StatoilHydro, Shell, Suncor and Syncrude.