Some collateral damage from the mortgage meltdown.

Apparently several tar sands companies that raised tons of money stuck it in short term institutional money market funds that were heavily invested in US mortgage bonds.

The Canadian Tar Sands...where Finance and Peak Oil meet. Would be a heck of a title for a book!! How many other high-priced extraction/exploration operations have done the same thing with spare dollars...invested in high interest funds to try to help with increasing costs.

Can you point me to any sources regarding oilsands/failed short term deposits? I would be keen to find out who has lost what.

An investor in Canadian oil stocks told me about the money market situation. I don't have any specifics.

Optimistic Kiwi,

If you find out would you E-mail me at billvon@windstream.net I have been investing in tar sand companies for 2-3 years