Friday 6 July 2007

Sell-off of Another Canadian Company

The Canadian federal government is on the verge of selling off a significant portion of Atomic Energy of Canada Ltd. As reported in the Toronto Star "AECL has been the heart of Canada's nuclear industry for more than 50 years and its engineers are considered world class."

Now, I'm not pro-nuclear, but putting our Canadian nuclear power industry in the hands of a large American company, General Electric, that has a history of environmental hazards, war profiteering and media manipulation, is just a recipe for making Canada more un-safe when it comes to nuclear reactors and nuclear waste in Canada. Read more about GE's misdeeds here.

Although the article in the Star states that the sell-off would only be up to 49%, with the controlling 51% remaining in Canadian hands, sell-offs like this have often led, in the history of selling Canadian companies, to selling off the rest, or selling the controlling shares later on.

Currently, nuclear waste is stored underground across Canada, with much stored in Southern Ontario.

For more information on hazards of nuclear power and nuclear waste:

- Sierra Club of Canada - Nuclear Waste
- Greenpeace Canada
- Nuclear Waste Watch
- Politics'n'Poetry - Pembina Institute - Nuke No Solution

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