Shareholder Activism in Alberta

I learned of THIS article from Alberta Views by reading AGRDT, wherein an active Green Party member bemoans the advantage the Conservatives have vis-a-vis campaign financing and Big Oil:

The Greens—and the Liberals and NDP, for that matter—can’t count on much support from oil companies (whose interest is to have as little regulation as possible), and no other Alberta industry can match Big Oil’s support. The Greens received donations totalling $17,387 in 2006—not quite enough for one prime-time TV commercial. The Alberta Conservatives raised $1.9-million the same year. “Caps on donations would be reasonable,” says Read, suggesting $2,000-$5,000 as a new limit.

Green-minded people should just buy shares in oil Companies and use their right to vote in the company to bring about change. They can also donate capital gains to green causes. It’s called shareholder activism.

A case in point: T. Boone Pickens and the Pickens Plan. From Canada.com:

Texas oil investor T. Boone Pickens called on Tuesday for a massive switch to natural gas as a transportation fuel and a boost in wind power in a plan aimed at reducing U.S. foreign oil dependence by a more than a third.

The Pickens Plan, which includes exploiting domestic natural gas supplies by tapping new areas like East Texas and Appalachia, could replace 38 percent of U.S. oil imports, he said.

“U.S. natural gas can replace foreign oil. It’s the only natural resource we have that can do that,” Pickens said during a press event for the release of his energy plan.

The 10-year plan would reduce the U.S. annual oil import bill of $700 billion, at oil prices of $140 a barrel, by hundreds of billions of dollars, he said.

You need some green-minded folks to start an investment fund that buys shares in oil companies and then takes these issues to the boardroom. I think the average joe might buy shares as a way to get their voice heard. of course, there’s the argument around one’s ability to pay, but I think those old farmers have more dough kicking around than they let on.

Related: Preston Manning Interview, 2006

LINK