Quote:
Originally Posted by Makarov
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The y/y increase is nice, but as mentioned, it is just a snap shot in time. Context is important.
Plus, that article is an opinion piece by the CEO of invest in Canada, a government funded initiative to recruit investment. By default it has to be a rainbows and sunshine piece that makes everyone feel good. So the goalposts get moved. No big deal, but again, context.
Ultimately, today, one of Canada's largest, and most historic, energy companies decided it was easier to re-domicile to the U.S. in order to gain access to capital markets there, because they can't access them here.
How much clearer a signal is needed? I mean, really. This is exactly what we've been talking about for years with respect to the impact of government policies on capital investment. Here it is. Right now. Today.
Encana:
Created from the merger of
PanCanadian Energy Company and
Alberta Energy Company in April 2002. Now to be re-domiciled in the U.S. (because they can actually get capital there), under a new name (that doesn't have any Canadian connotations, deliberately).