Read your article today RE; Canadians don't know what's best for Canada..... NO !! it's the Harper Government that doesn't know what is best for Canada.
I watched an interview on BNN today (tags). Wow, the Harper Government sure is inept to say the least.
Thanks,
Joe
NDP says CNOOC-Nexen deal should be rejected
CNOOC's proposed $15.1-billion takeover of Calgary-based oil producer Nexen (NXY-T 24.99 -0.23 -0.91%) should be rejected as it's currently structured, the official opposition New Democratic Party said Thursday.
The NDP highlighted the lack of clarity surrounding the approval process of foreign takeovers as the main reason for it coming out against the deal.
"The Conservatives failed to act in good faith and inform the public of the consequences of this takeover. We’re talking about a company that plays a key role in a critical sector of our economy,” NDP Natural Resources critic Peter Julian said in statement.
The NDP says the deal, as it currently stands, leaves many important questions unanswered, such as whether CNOOC will protect jobs, keep its head office in Calgary and uphold environmental standards.
“Foreign investments are crucial for reinforcing our economy, but we must ensure that these investments are not made at the cost of quality jobs and the sustainable development of our resources,” Julian said.
CNOOC's takeover offer is the first ever outright takeover of an oil patch company by a Chinese firm and has put the spotlight on Ottawa at a time when it's trying to nurture a stronger relationship with China.
Since the takeover offer is worth more than $330 million, Ottawa must assess the deal to see whether it passes the "net benefit" test. As part of the test, lawmakers must weigh whether the deal will increase economic activity in Canada, employ Canadians and foster innovation, among other factors.
"This particular transaction raises a range of difficult policy questions, difficult and forward-looking issues -- those things will all be taken into account," Prime Minister Stephen Harper said on Thursday.
The announcement was largely expected, as earlier this week the NDP tried to force the Conservative government to hold public hearings on the bid – though that move was eventually blocked.
"We do not have confidence in this government's ability to handle this transaction. We have seen them break commitment after commitment about having a transparent process and about ensuring public consolations," Julian said at a press conference announcing the move by the NDP.
The NDP is also calling on the government to provide greater clarity to the rules surrounding foreign takeovers.
"And what we've been saying all along, to be fair to the public, to ensure there is public confidence in the process and to be fair to investors so that there is a level playing field the government has to move and act," Julian says.
Industry Minister Christian Paradis, who is overseeing the decision, says the NDP is simply politicizing the takeover.
"The NDP’s actions are reckless and irresponsible. By attempting to politicise the review process they are creating the kind of uncertainty that scares off the investment Canadian companies rely on to create jobs, innovate and compete," he told BNN in a statement.
The NDP highlighted the lack of clarity surrounding the approval process of foreign takeovers as the main reason for it coming out against the deal.
"The Conservatives failed to act in good faith and inform the public of the consequences of this takeover. We’re talking about a company that plays a key role in a critical sector of our economy,” NDP Natural Resources critic Peter Julian said in statement.
The NDP says the deal, as it currently stands, leaves many important questions unanswered, such as whether CNOOC will protect jobs, keep its head office in Calgary and uphold environmental standards.
“Foreign investments are crucial for reinforcing our economy, but we must ensure that these investments are not made at the cost of quality jobs and the sustainable development of our resources,” Julian said.
CNOOC's takeover offer is the first ever outright takeover of an oil patch company by a Chinese firm and has put the spotlight on Ottawa at a time when it's trying to nurture a stronger relationship with China.
Since the takeover offer is worth more than $330 million, Ottawa must assess the deal to see whether it passes the "net benefit" test. As part of the test, lawmakers must weigh whether the deal will increase economic activity in Canada, employ Canadians and foster innovation, among other factors.
"This particular transaction raises a range of difficult policy questions, difficult and forward-looking issues -- those things will all be taken into account," Prime Minister Stephen Harper said on Thursday.
The announcement was largely expected, as earlier this week the NDP tried to force the Conservative government to hold public hearings on the bid – though that move was eventually blocked.
"We do not have confidence in this government's ability to handle this transaction. We have seen them break commitment after commitment about having a transparent process and about ensuring public consolations," Julian said at a press conference announcing the move by the NDP.
The NDP is also calling on the government to provide greater clarity to the rules surrounding foreign takeovers.
"And what we've been saying all along, to be fair to the public, to ensure there is public confidence in the process and to be fair to investors so that there is a level playing field the government has to move and act," Julian says.
Industry Minister Christian Paradis, who is overseeing the decision, says the NDP is simply politicizing the takeover.
"The NDP’s actions are reckless and irresponsible. By attempting to politicise the review process they are creating the kind of uncertainty that scares off the investment Canadian companies rely on to create jobs, innovate and compete," he told BNN in a statement.
Thanks Joe Y.... my remarks were sarcasm meant to catch the eye of idle Canadians who just want to follow blindly into the abyss of Conservative ineptness. I have to agree that this government does not review, study nor evaluate major structural or economic changes to Canada. It is self evident in their failings from F-35 procurement to the sale of potash and now the Nexen takeover. All they can think of is selling out our Nation rather than maintaining our National Pride.
Canadians and the media have fooled themselves into believing that these Conservatives are the same party as the previous Progressive Conservatives, they are not. They are NOT Tories, it is a misnomer to call them that. Tories were more loyal to Canada and served with pride. They were a world ahead of Harper and his henchmen. Alison Redford is no better, all she cares about is the sale of low grade bitumen oil to China, it is she who should be shouting no, just as Brad Wall did over the sale of potash to a Commonwealth Partner.
If Canada can say no to a Commonwealth Partner then why can't we say no to China.
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