US Oil Sands the fraudulent tar sands strip mining company changed its name to 2020 Resources. This is the third time since 2005. They first began leasing land for strip mining in Eastern Utah, as “Earth Energy Resources”.
The newly named “2020 resources” has never actually made a profit however they have continued to pay large salaries to the CEOs after delisting from the stock market and declaring bankruptcy in 2017. All the public stock holders lost their investment and numerous creditors were forced to forgive US Oil Sands debts. For example the state of Utah. SITLA was owed $275,000 for lease payments that were forgiven through bankruptcy. “2020 resources” continues to defraud investors, local businesses and communities under this new name.
2020 resources makes false claims on their web page. There is no environmentally friendly way to turn rocks into oil. Tar sands mining is the most destructive project on earth. It has shown to be energy intensive. It takes massive amounts of water. Tar sands requires major upgrading and produces a dirty fuel. The mine site continues to remain idle as of 2019 meanwhile the CEOs who live in Canada are making money by not ever going commercial. Don’t be fooled by 2020 resources.