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If the Keystone Pipeline is such a great idea why are Private Investors fleeing?

Sign: I'm only 4 and I speak for the Trees, Water, Land, Animals And Our Children

A young indigenous activist protesting the Tar Sands pipeline.

France’s Total SA (NYSE: TOT) will sell its 49% stake in its Canadian oil sands project to Suncor Energy Inc. for $500 million, netting the French oil giant a $1.65 billion loss on the beleaguered project.

Total would have had to spend another $5 billion (at least) on the Alberta oil sands Voyageur Upgrader project over the next five years—an investment that cannot be justified according to its executives.

reports Christian Science Monitor.

When big investors sell stock, you sell stock — why? Big investors know more than you do about whats really going on in a company.

When big investors are willing to lose money selling stock you sell your stock for any price you can get.

When big investors are willing to take a $1.65 billion loss, in this case about a $3 loss for every dollar invested ( $4 become $1 ), then Sell Now!

Its not just this oil company, it’s everyone invested in Canadian tar sands oil reports the CBC:

Marathon Oil Corp., Murphy Oil Corp. and Athabasca Oil Corp. had sought buyers and partners in the Northern Alberta oil sands, but now have changed their minds – or in Athabasca’s case, have told investors to hang tight after the company failed to clinch deals that had once appeared imminent.

Those companies join ConocoPhillips Co., Koch Industries Inc. and Royal Dutch Shell PLC in being disappointed after putting properties up for sale that may have once attracted bids totalling in the billions of dollars. Those three say they have rethought their plans after offers failed to meet expectations.

When all the big players in a certain sector of stocks in this case Canadian Tar Sands Oil are trying to sell but can’t find any buyers, I am forced to ask just why does Obama want the Keystone Pipeline? Total estimates they would have needed another $5 billion over the next 5 years to keep the company going.

I assume the Koch brothers and friends need similar cash because they are all trying to sell. My question is how can the Keystone Pipeline provide jobs if $5 billion more is needed in 5 years but nobody seems to want to cough up the cash?

Photo via / Tar Sands Blockade released under a Creative Commons license.

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A jack of all trades master of none a pot felon who can't get a job worthy of his talents so I write for free.