Quote:
Originally Posted by DirtyMike
The drop in the commodity price has been far more detrimental to the state of Alberta's economy than any other factor. If the price of oil was still $110 the economy would be doing well, regardless of whatever you think Harper has done.
As for foreign investment, the only foreign acquisition the federal government has rejected was in Saskatchewan for PotashCorp. Since Harper's been in power, there have been billions of dollars in foreign investment in the Canadian oil industry.
http://www.albertaoilmagazine.com/20...reign-funding/ |
Market cap of income trusts expanded from 14 billion to 110 billion from 2000 - 2004 and when Harper changed the rules over 25 billion of equity was erased overnight. Almost as good as an average deficit under Harper all in a day's work. Where are companies like penn west, pengrowth, baytex, ener plus and the like today? Most are barely surviving and have been dogs for years. And what replaced the activity generated by energy trusts acquiring aggressive juniors? The industry is still searching for a new model on the conventional side.
Every single one of those deals in the article you quoted occurred before the change in the rules on state owned enterprises acquiring "Canadian companies", as if that means they acquire the actual resource. I fail to see the relevance.
i don't know if you noticed, but stock prices of oil sands companies were receding well before commodity prices fell off the map last year. How many oilsands start ups did you witness after 2012? The oil price drop has merely been the final nail in the coffin for some (and likely more to come). You can't put two cement boots on someone sitting on the beach in low tide and them expect them to swim when the water rises. That is what Harper has done to our economy