Fat, lazy, and inefficient to be precise. So says Don Lowry, Chair of Canadian Oil Sands Corporation. Lowry's sentiments were seconded by Joe Bradford, speaking on behalf of CNOOC, the Chinese government-owned oil conglomerate that recently bought into the tar sands.
Lowry even had a heart-stopping anecdote to underline his point. Back when he was CEO of Epcor, they got a quote of $175,000 to build a bathroom.
Always get more than one quote would be my advice.
But the article did get me thinking; who is Don Lowry and what is Epcor?
Epcor was a public utility owned by the city of Edmonton. Lowry was essentially a civil servant.
But a very well paid one. In 2009 his salary was 2.6 million, about a million better than the CEO of Ontario's public power company, even though his Ontario counterpart presided over an operation that produced roughly ten times the electricity Epcor did.
Now I'm not suggesting that Lowry is fat or lazy or inefficient. But he is obviously a guy who knows how to make the best of it when he bellies up to the trough.
Which I suppose is no different than what those suppliers and contractors in Fort Mac are doing.
Making hay while the sun shines, as they say...
The difference being that Don made his hay at the public trough, while the Fort Mac guys are strictly private sector.
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