@conference {52731,
	title = {Joint ventures between industry and government},
	year = {1991},
	note = {IN:  Breaking the Mind-Set.  Fifth Annual Conference on the Canadian Heavy Oil Industry.  December 3, 1991 Calgary, Alberta.  Canadian Heavy Oil Association Calgary, Alberta.  12 pp.},
	month = {12/1991},
	pages = {12 pages },
	publisher = {Canadian Heavy Oil Association },
	organization = {Canadian Heavy Oil Association },
	address = {Calgary, AB },
	abstract = {Joint venture projects undertaken between government and industry in western Canada are reviewed. The first significant involvement of the Alberta government was with the Syncrude oil sands project. In 1974, one of the original participants, Atlantic Richfield, pulled out of Syncrude for financial reasons. After a government review and search for replacement participation, three provincial governments took equity positions in the project. The Syncrude project has since had a very significant impact on Alberta and Canada in terms of oil production, employment, investment, and profits. The Other Six Leases Operation (OSLO), the OSLO New Ventures Project, and the Lloydminster Bi-Provincial Upgrader would also not have advanced to their present stages of development without government participation. Since oil sand/heavy oil development requires significant capital investment over long lead times, and since there are few private companies that can undertake such a commitment, government assistance is often required. It also makes sense for governments to share upfront risk in such projects for both the long-term economic gain and such immediate benefits as job creation and energy supply security. An industry/government joint venture provides a means of getting large, inherently economic projects such as oil sands developments under way while protecting taxpayers{\textquoteright} interests. The success of such a joint venture depends not only on the financing brought to the project but also on the expertise, decision making capability, and balanced management of regulatory and policy issues
},
	keywords = {economics, legislation, overview, policy},
	author = {Vant, T.R.}
}
