Oh oh. Looks like Justin is
taking policy advice from the CCCE (Canadian Council of Chief Executives, aka the Uber One Percenters) rather than reflecting the
clear desires of Canadians who oppose this takeover of Nexen by CNOOC.
Surely
Justin, there are ways to "strengthen economic ties" with China, shy of
takeovers like Nexen?
As a contender for the leader of the Liberal Party and a possible future Canadian Prime Minister, Justin Trudeau would be far better off enunciating the position that Canada needs a clear set of rules that govern foreign takeovers of Canadian businesses (like the need for reciprocity, etc. a
s recommended by thoughtful people like Diane Francis), rather than entering the fray with one-off support for the takeover of the day.
Instead Justin ends up looking like a pawn for those with commercial interests in the Nexen deal, rather than someone capable of leading the country for the benefit or more than just the one percenters
Justin Trudeau backs Chinese takeover of Nexen as way to strengthen economic ties
By Lee Berthiaume,
Postmedia News
November 19, 2012
OTTAWA — Justin Trudeau has come out strongly in favour
of a Chinese state-owned energy company’s effort to purchase
Calgary-based petroleum producer Nexen.
Trudeau made the comments
in an opinion column published in some Postmedia newspapers and websites
Tuesday, arguing that China’s objectives are not “sinister” and that
Canada is in an enviable position for engaging the Asian power.
“China
has a game plan,” the Liberal leadership contender wrote. “There is
nothing inherently sinister about that. They have needs and the world
has resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The
Chinese National Offshore Oil Company’s $15.1-billion takeover bid for
Nexen has become a sensitive issue for Stephen Harper’s government,
which is expected to rule in the coming weeks on whether it will accept
the deal.
There has been concern — including from some
Conservative backbenchers — that permitting CNOOC to take over Nexen
represents a threat to Canada’s national security.
Others,
however, have warned that rejecting the takeover will anger Chinese
officials and scare off other potential foreign investors.
In his
opinion article, Trudeau said Canada should use its natural resources to
build a foundation for broad, long-term economic engagement with the
Asian power — and approving the Nexen deal would go a long way to
accomplishing that goal.
“Why is the CNOOC-Nexen deal good for
Canada?” Trudeau wrote. “Because Chinese and other foreign investors
will create middle-class Canadian jobs …. More fundamentally, it is in
Canada’s interest to broaden and deepen our relationship with the
world’s second-largest economy.”
Trudeau, who will be in Calgary
Tuesday, said conditions should be attached to foreign investors that
require them to abide by Canadian laws and operate in good faith. And he
acknowledged that there will be national security concerns in certain
sectors.
“However, in the CNOOC case, Chinese ownership of three
per cent of oilsands leases hardly constitutes a national security
issue,” he wrote.
“Most important, the big picture isn’t about
CNOOC or Petronas, but the many opportunities like them that will follow
in their footsteps.”
Malaysian state-owned energy company
Petronas is awaiting word from the Harper government on its plan to take
over Calgary-based natural gas producer Progress Energy after its
initial proposal was rejected last month.
Trudeau took a shot at
the Harper government for what he called its “erratic approach and
secretive behaviour” when it comes to reviewing foreign takeovers, and
its failure to lay out a clear, public strategy for engaging Asia.
“The
government has failed to provide the context, to make the positive case
for Asia,” he wrote. “It is therefore as difficult to reject bad ideas
like the Northern Gateway as it is to approve good opportunities like
the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The
overarching requirement is to translate China’s interest in Canadian
natural resources into long-term economic prosperity for this country,
he said, especially as the Asian nation’s population grows and its
infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While
heavy on emphasizing the need for economic engagement with China, his
article makes only a passing mention of the country’s democratic and
human rights record, referring to the need to engage with the Chinese
instead of isolating them.
It also does not mention what the
government should do when national security is a factor in a proposed
foreign takeover, although an official within Trudeau’s camp indicated
the Liberal leadership candidate is not in favour of different rules for
privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume
OTTAWA
— Justin Trudeau has come out strongly in favour of a Chinese
state-owned energy company’s effort to purchase Calgary-based petroleum
producer Nexen.
Trudeau made the comments in an opinion column
published in some Postmedia newspapers and websites Tuesday, arguing
that China’s objectives are not “sinister” and that Canada is in an
enviable position for engaging the Asian power.
“China has a game
plan,” the Liberal leadership contender wrote. “There is nothing
inherently sinister about that. They have needs and the world has
resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The
Chinese National Offshore Oil Company’s $15.1-billion takeover bid for
Nexen has become a sensitive issue for Stephen Harper’s government,
which is expected to rule in the coming weeks on whether it will accept
the deal.
There has been concern — including from some
Conservative backbenchers — that permitting CNOOC to take over Nexen
represents a threat to Canada’s national security.
Others,
however, have warned that rejecting the takeover will anger Chinese
officials and scare off other potential foreign investors.
In his
opinion article, Trudeau said Canada should use its natural resources to
build a foundation for broad, long-term economic engagement with the
Asian power — and approving the Nexen deal would go a long way to
accomplishing that goal.
“Why is the CNOOC-Nexen deal good for
Canada?” Trudeau wrote. “Because Chinese and other foreign investors
will create middle-class Canadian jobs …. More fundamentally, it is in
Canada’s interest to broaden and deepen our relationship with the
world’s second-largest economy.”
Trudeau, who will be in Calgary
Tuesday, said conditions should be attached to foreign investors that
require them to abide by Canadian laws and operate in good faith. And he
acknowledged that there will be national security concerns in certain
sectors.
“However, in the CNOOC case, Chinese ownership of three
per cent of oilsands leases hardly constitutes a national security
issue,” he wrote.
“Most important, the big picture isn’t about
CNOOC or Petronas, but the many opportunities like them that will follow
in their footsteps.”
Malaysian state-owned energy company
Petronas is awaiting word from the Harper government on its plan to take
over Calgary-based natural gas producer Progress Energy after its
initial proposal was rejected last month.
Trudeau took a shot at
the Harper government for what he called its “erratic approach and
secretive behaviour” when it comes to reviewing foreign takeovers, and
its failure to lay out a clear, public strategy for engaging Asia.
“The
government has failed to provide the context, to make the positive case
for Asia,” he wrote. “It is therefore as difficult to reject bad ideas
like the Northern Gateway as it is to approve good opportunities like
the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The
overarching requirement is to translate China’s interest in Canadian
natural resources into long-term economic prosperity for this country,
he said, especially as the Asian nation’s population grows and its
infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While
heavy on emphasizing the need for economic engagement with China, his
article makes only a passing mention of the country’s democratic and
human rights record, referring to the need to engage with the Chinese
instead of isolating them.
It also does not mention what the
government should do when national security is a factor in a proposed
foreign takeover, although an official within Trudeau’s camp indicated
the Liberal leadership candidate is not in favour of different rules for
privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume
Read more:
http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleebYiI
OTTAWA
— Justin Trudeau has come out strongly in favour of a Chinese
state-owned energy company’s effort to purchase Calgary-based petroleum
producer Nexen.
Trudeau made the comments in an opinion column
published in some Postmedia newspapers and websites Tuesday, arguing
that China’s objectives are not “sinister” and that Canada is in an
enviable position for engaging the Asian power.
“China has a game
plan,” the Liberal leadership contender wrote. “There is nothing
inherently sinister about that. They have needs and the world has
resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The
Chinese National Offshore Oil Company’s $15.1-billion takeover bid for
Nexen has become a sensitive issue for Stephen Harper’s government,
which is expected to rule in the coming weeks on whether it will accept
the deal.
There has been concern — including from some
Conservative backbenchers — that permitting CNOOC to take over Nexen
represents a threat to Canada’s national security.
Others,
however, have warned that rejecting the takeover will anger Chinese
officials and scare off other potential foreign investors.
In his
opinion article, Trudeau said Canada should use its natural resources to
build a foundation for broad, long-term economic engagement with the
Asian power — and approving the Nexen deal would go a long way to
accomplishing that goal.
“Why is the CNOOC-Nexen deal good for
Canada?” Trudeau wrote. “Because Chinese and other foreign investors
will create middle-class Canadian jobs …. More fundamentally, it is in
Canada’s interest to broaden and deepen our relationship with the
world’s second-largest economy.”
Trudeau, who will be in Calgary
Tuesday, said conditions should be attached to foreign investors that
require them to abide by Canadian laws and operate in good faith. And he
acknowledged that there will be national security concerns in certain
sectors.
“However, in the CNOOC case, Chinese ownership of three
per cent of oilsands leases hardly constitutes a national security
issue,” he wrote.
“Most important, the big picture isn’t about
CNOOC or Petronas, but the many opportunities like them that will follow
in their footsteps.”
Malaysian state-owned energy company
Petronas is awaiting word from the Harper government on its plan to take
over Calgary-based natural gas producer Progress Energy after its
initial proposal was rejected last month.
Trudeau took a shot at
the Harper government for what he called its “erratic approach and
secretive behaviour” when it comes to reviewing foreign takeovers, and
its failure to lay out a clear, public strategy for engaging Asia.
“The
government has failed to provide the context, to make the positive case
for Asia,” he wrote. “It is therefore as difficult to reject bad ideas
like the Northern Gateway as it is to approve good opportunities like
the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The
overarching requirement is to translate China’s interest in Canadian
natural resources into long-term economic prosperity for this country,
he said, especially as the Asian nation’s population grows and its
infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While
heavy on emphasizing the need for economic engagement with China, his
article makes only a passing mention of the country’s democratic and
human rights record, referring to the need to engage with the Chinese
instead of isolating them.
It also does not mention what the
government should do when national security is a factor in a proposed
foreign takeover, although an official within Trudeau’s camp indicated
the Liberal leadership candidate is not in favour of different rules for
privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume
Read more:
http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleebYiIv
OTTAWA
— Justin Trudeau has come out strongly in favour of a Chinese
state-owned energy company’s effort to purchase Calgary-based petroleum
producer Nexen.
Trudeau made the comments in an opinion column
published in some Postmedia newspapers and websites Tuesday, arguing
that China’s objectives are not “sinister” and that Canada is in an
enviable position for engaging the Asian power.
“China has a game
plan,” the Liberal leadership contender wrote. “There is nothing
inherently sinister about that. They have needs and the world has
resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The
Chinese National Offshore Oil Company’s $15.1-billion takeover bid for
Nexen has become a sensitive issue for Stephen Harper’s government,
which is expected to rule in the coming weeks on whether it will accept
the deal.
There has been concern — including from some
Conservative backbenchers — that permitting CNOOC to take over Nexen
represents a threat to Canada’s national security.
Others,
however, have warned that rejecting the takeover will anger Chinese
officials and scare off other potential foreign investors.
In his
opinion article, Trudeau said Canada should use its natural resources to
build a foundation for broad, long-term economic engagement with the
Asian power — and approving the Nexen deal would go a long way to
accomplishing that goal.
“Why is the CNOOC-Nexen deal good for
Canada?” Trudeau wrote. “Because Chinese and other foreign investors
will create middle-class Canadian jobs …. More fundamentally, it is in
Canada’s interest to broaden and deepen our relationship with the
world’s second-largest economy.”
Trudeau, who will be in Calgary
Tuesday, said conditions should be attached to foreign investors that
require them to abide by Canadian laws and operate in good faith. And he
acknowledged that there will be national security concerns in certain
sectors.
“However, in the CNOOC case, Chinese ownership of three
per cent of oilsands leases hardly constitutes a national security
issue,” he wrote.
“Most important, the big picture isn’t about
CNOOC or Petronas, but the many opportunities like them that will follow
in their footsteps.”
Malaysian state-owned energy company
Petronas is awaiting word from the Harper government on its plan to take
over Calgary-based natural gas producer Progress Energy after its
initial proposal was rejected last month.
Trudeau took a shot at
the Harper government for what he called its “erratic approach and
secretive behaviour” when it comes to reviewing foreign takeovers, and
its failure to lay out a clear, public strategy for engaging Asia.
“The
government has failed to provide the context, to make the positive case
for Asia,” he wrote. “It is therefore as difficult to reject bad ideas
like the Northern Gateway as it is to approve good opportunities like
the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The
overarching requirement is to translate China’s interest in Canadian
natural resources into long-term economic prosperity for this country,
he said, especially as the Asian nation’s population grows and its
infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While
heavy on emphasizing the need for economic engagement with China, his
article makes only a passing mention of the country’s democratic and
human rights record, referring to the need to engage with the Chinese
instead of isolating them.
It also does not mention what the
government should do when national security is a factor in a proposed
foreign takeover, although an official within Trudeau’s camp indicated
the Liberal leadership candidate is not in favour of different rules for
privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume
Read more:
http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleebYiI
5 comments:
Justin not so fast !
Do you know what your talking about ? This is not some canoe trip down a stream.
Your selling out Canadian strategic resources and losing management control to collect royalties and to create jobs. Inco probably had the longest strike in its history since the takeover, Stelco is gone !
Justin please give Elizabeth May a call she will brief you on the file
JC
Agreed, unless he does a 180 on this issue, I won't be voting Liberal or cutting the LPC another cheque.
mb
You're not much of a Liberal if for one you don't support a potential leader for embracing liberalism, and two if you're willing to give up on a party because you disagree with one policy.
I just bumped into (Former) Senator Jerry Grafstein and we started talking about the two Liberal leadership races going on federally and provincially in Ontario.
The conversation lead to Justin and Senator Grafstein applauded Justin for his position on the proposed Nexen takeover by CNOOC.
I told Jerry that I oppose Justin's position on this takeover and that Justin would have been wiser to espouse a policy position on takeovers at large, rather than a one-off endorsement of the takeover du jour.
I commented that such a takeover policy framework should included matters like reciprocity, etc. as stated in my original blog post.
Senator Grafstein insisted that Justin's position did indeed raise such a condition of reciprocity and said I should read Justin's piece on Justin.ca.
Upon returning home I did that very thing.
Sadly, Justin's piece raises no such conditions, in fact it raises no conditions whatsoever for the takeover of Nexen by CNOOC. See for yourself at:
http://justin.ca/justin-trudeau-why-the-cnooc-nexen-deal-is-good-for-canada/
Yup just read Justin's carve out piece, found a stream leading nowhere !
jc
Post a Comment