The Globe and Mail reports in its Friday, Oct. 2, edition that first nations ought
to have an interest in some pipeline projects. A Globe editorial says a natural way to bring
that about would be for first nations to have equity in some pipelines,
whether as communities or individuals, especially when a
project is in their traditional territory.
That is the premise on which Eagle Spirit Energy Holdings is
working. Eagle Spirit president Calvin Helin says the company has at least a degree of approval of
aboriginal chiefs all along Enbridge's proposed Northern Gateway pipeline route, from
Alberta to Prince Rupert, B.C., on the West Coast.
The Aquilini Group, which owns among other things the Vancouver
Canucks, is the main investor. Up to now, most of Aquilini's interests
have been in real-estate development and construction.
Presumably, The Globe says other companies with experience in oil and gas and
pipelines could become involved.
To say all this is not to endorse any particular project, and Eagle
Spirit's own plans do not seem far advanced. The concept, however, of
issuing shares --- and in due course dividends -- to first nations carries
great promise.
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