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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Sinopec eyes overseas acquisitions

Den:

First, thank you for the plethora of stories re; attorneys. I needed a good laugh. Thanks for providing it.

Now, on to issues you raised.

My own feeling is that Obama in his moves with both the dysfunctional and failed banking system and automotive sectors, is revealing his true poliical and economic beliefs and agenda. Beliefs which he was careful to veil during the election campaigns. To my regret, those beliefs are in fact contrary to everything the post world war II European experence has taught and the guiding pinciples which the American political and economic systems of self reliance and reward for excellence were founded upon. Obama has convinvinced me that he is in actuality a "closet"socialist"whom is now having his "coming out" party. In other words, his election was actually predicated on an ongoing deception of the American people as to his real objectives,intentions and motivations. Otherwise known as deception and lies. One need look no further than his actions over the weekend with respect to the automotive industry.

The automotive industry in the US, richly deserves to go into Chapter Eleven Bankruptcy. Such would and historically has provided the mechanism and methodology for resolving incidences of insolvency. From this process, a company can emerge in a reorganized state with a structure designed to permit the potential for profitable operation in the environment it finds itself competing. Instead, we now have an Obama designed protectorate designed to micro manage the industry. This will morph effectively into a nationalization of the automotive industry. One thing we all know. The US Congress and Executive Branch are lousy business managers. As long as the effort is intentioned to serve political interests rather than economic and social interests, the effort will be doomed to long term failure.

Now to more relevent to Connacher issues. Some here may think I am opposed to alternative energies to oil. Such is not the case. It is my opinion that we need a multi track approach of dealing with the issues involved.

Firstly. We cannot effectively transition to alternative non petroleum based fuels soley in the next few years. Even a cursory examination will demonstrate we have a thirty year problem. There are appoximately 300 million cars on the road today in North America. With automotive production capability and an accelerated development cycle combined with our capabilites, we are looking at approximatly that thirty year cycle at the most optimistic to completely turn over our automotive propulsion system from existing technology to the new technologies. And that is if all works perfectly. Which of course it never does.

Obamas plan to disengage from petroleum based fuels in the short run is unrealistic and not attainable. Yesterday I heard him reference a changeover in ten years. Thouh I understand the desire to challenge. a dose of reality is needed. To not move along a dual pronged strategy of utilizing existing tehnology while new technologies along wih their infrastucture reuirements are developed, leaves our entire transportation system at risk.

Brian



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