Quote:
Originally Posted by powderjunkie
Corporate investment doesn't turn on a dime. Royalty review certainly didn't help, but very unlikely it was the make or break on many projects. Same for the 2% tax increase. Both are lame excuses for decreased investment that was 99% inevitable. The 2% at least helped mitigate this inevitable loss a bit.
|
Existing projects, no they won't be halted instantly, but between those provincial and federal changes, and moreso the uncertain environment they created, (Large producers want stability for their $), they have effectively driven away nearly all of the international capital from Canada.
Look at the awe inspiring retreat of supermajors from Alberta, it is literally unprecedented and a massive hit on our economy. I'd argue its great for local guys like Suncor and CNR, but holy hell, the proof is in the pudding for what the world thinks of the climate NDP and Liberals have created.
Money talks.