"Paramount Resources Ltd. is pleased to announce the reorganization of all of the Company's oil sands and carbonate bitumen interests into a new wholly-owned subsidiary, Pixar Petroleum Corp. ("Pixar")," reads the press release.
If you're thinking this is an early April Fool's Day joke, well, the news has been picked up by Canadian Business magazine and the Calgary Herald. And these bozos are listed on the Toronto Stock Exchange.
I'm no trademark expert, but this seems like shameless hijacking of a well-known brand by an industry in desperate need of good publicity—the Alberta tar sands are an environmental disaster.
Coincidentally, Leslie Iwerks, director of The Pixar Story and A Day in the Life of John Lasseter, made a series of documentaries about the issue. You can watch one of them, Downstream, here.
Update: "We intend to take the appropriate legal action," a Walt Disney Company spokeswoman tells The Wall Street Journal.
(Updated Dec. 2)