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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (2369)5/8/2001 8:45:01 AM
From: Tomas  Read Replies (1) of 2742
 
Sudan: Talisman enemies guilty of hypocrisy
Calgary Sun, May 8
By PAUL JACKSON, associate editor of the Sun

The rabble that descended upon Jim Buckee's annual meeting a week ago said all there really is to say of the case against Talisman Energy Inc.'s operations in Sudan.

Inside the meeting, the Talisman president spoke calmly and articulately about the growing success of our country's largest independent oil and gas company. It's a success every fair-minded man and woman should applaud.

Outside, some 200 protesters beat drums, waved crosses and raised placards, denouncing this entrepreneurial company. It was an unruly demonstration that disgraced every one of the ragtag individuals involved.

The two sides in this issue couldn't be more different. One is conservative, well-behaved, industrious and business-like. A credit to our community. The other side is intolerant, raucous and hysterical -- and apparently believes in mob rule rather than rule of law. It demeans, rather than enhances, our city.

The situation in a nutshell:

Talisman is part-owner of an oil project in the East African nation, together with the Sudanese, Chinese and Malaysian state oil corporations. It was quite a coup for this fiercely free enterprise company to mesh itself with these socialist giants.

Some so-called 'human-rights' organizations, a bunch of zany churches and the usual flotsam-and-jetsam of the Lib-Left contend Talisman is indirectly helping the Sudanese government -- and let's stress the word "government" to fight rebels in the southern part of the nation. Again let's stress a word, "rebels."

The Sudanese government has actually been in an 18-year-long civil war against tribes who want to carve up the country and Talisman's opponents charge the royalties it gets from the Canadian company is helping it fund that military action.

Well, so what?

Talisman's opponents also claim the oil activity has caused forcible widespread population displacement -- a claim the company has neatly nixed by showing satellite images of its oil concession area across a 35-year path.

When Lloyd Axworthy was foreign affairs minister, he threatened to punish Talisman by invoking sections of the Special Economic Measures Act against it. Our current foreign affairs minister, John Manley, hasn't gone that far. Manley is simply very dubious about Talisman's involvement.

Talisman insists its presence in Sudan is an influence for the better of the Islamic government, and points out it has contributed heavily to educational and medical projects in the country. It's basically been an outstanding corporate citizen.

Axworthy, who, as foreign affairs minister virtually went on a campaign of hatred against the U.S., some left-wing Liberal MPs and Alexa McDonough's New Democrats feel that somehow isolating Sudan will bring about democratic reforms. Strangely, that's the exact opposite feeling they hold about the brutal dictatorship of Fidel Castro in Cuba.

Castro has ruled Cuba with an iron fist for more than four decades. Free speech is banned. All newspapers, radio and television stations are controlled by the government. Hundreds of thousands have toiled in labour camps. Anyone who demands democratic rights is jailed. The economy is nationalized. Churches have been ransacked, believers brutalized. Socialized agriculture has been such a flop that food is rationed. Rebels are shot.

Yet, the likes of Axworthy laugh at the U.S. trade embargo aimed at toppling the communist regime. In this case, the involvement of foreign companies is hailed as having a positive and moderating influence on the dictator. Well, he hasn't shown any change of heart since taking over power in 1959, so that's obviously a specious argument.

At Talisman's annual meeting, Buckee was able to reveal that Talisman's profit for the quarter ended March 31 increased to $346 million from $206 million a year earlier.

Its cash flow is set to hit $3 billion this year. It's well on the way to producing a staggering 500,000 barrels of oil a day. We should all be lauding this company, not chastising it.

Why a small but highly vocal set is trying to undermine Talisman can be summed up this way: Hypocrisy, selective morality and situational ethics. Basically, misleading behaviour. But for them, it's likely a fun campaign.

Paul Jackson can be reached at paul.jackson@cal.sunpub.com

canoe.ca
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