CALGARY - A New York hedge-fund analyst unwittingly wound up in the middle of an environmental protest on Monday against oilsands development.

Most of the 350 delegates to the oil and gas symposium scheduled by the Canadian Association of Petroleum Producers (CAPP) steered clear as about 50 protesters gathered outside Calgary's Hyatt Regency Hotel.

But curiosity drew Ross Levin, an analyst with Arbiter Partners, LP, to ask what the fuss was about.

He was offered a bottle of muddy Lake Athabasca water by Mike Hudema of Greenpeace Canada, who challenged him to drink it. (He refused.)

Then, as news reporters surrounded and attempted to interview him, a protester began shouting accusing questions, and he was forced to retreat behind the guarded south doors.

"Not one environmental assessment has ever been turned down," the protester insisted.

"I don't think I agree with some of your premises, but I don't hear a question either," Levin shouted back over his shoulder.

To help him advise his clients, Levin said later, he wanted to know what the environmentalists want - a slowdown of oilsands development, or a complete stop.

"I'm really just a passive speculator in securities. . . . That's why I wanted to take a walk out there."

The protest was organized by the Sierra Club, ForestEthics, Greenpeace, the Council of Canadians, and the Athabasca Chipewyan First Nation - a small community downstream from the oilsands plants, where high rates of rare cancers have been killing the aboriginals who live off the land.

"The message to investors is: If you are investing in the tarsands, you're investing in a project that has an ever-growing environmental and human-rights price tag," Hudema said.

"We were expecting a fairly small rally today, but we're here mostly to support the people of Fort Chip, who are dealing with higher and higher rates of cancer in their communities, and growing water issues."

CAPP president Pierre Alvarez referred to the protest in a lunch speech about changes to climate-change regulations.

"The oilsands are and remain not only an important energy source, but a huge and positive contributor to a sustainable and growing Canadian economy," he said.

Afterwards, he said the protesters aren't saying anything the industry doesn't already know.

"We work with the environmental community on lots of issues."

Government attempts to control the pace of oilsands development would be doomed to failure, he added.

"I think the investor community, over the past couple of years, has been increasingly aware of the environmental and social issues," he said.

"Clearly, it's not just talking about economic numbers; it's talking about your environmental performance, and companies are responding to that challenge, as well."

Marcel Coutu, chief executive of Canadian Oil Sands Trust, the largest owner of Syncrude Canada Ltd., said Monday the public is not well informed about the progress oilsands companies have made in reducing their environmental footprints.

He partly blamed the news media, but also said industry must do a better job of communicating its success.

"We are looking at launching a communications initiative by the whole industry, which people will see before the end of the month," Coutu said.

"Alberta has for years put profit before people," countered Susan Stratton, president of Alberta Greens.

"It's time there was some balance. We need to slow down the tarsands."

Lionel Lepine, a member of the Athabasca Chipewyan First Nation, said people are dying because of the oilsands development.

"Our whole traditional way of life is going to be gone, thanks to the oilsands," he said.