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Premier Redford welcomes foreign investment in energy sector
Chandra Lye, CTV Edmonton
Published Saturday, December 8, 2012 4:11PM MST
Last Updated Saturday, December 8, 2012 6:34PM MST
The province appears out of step with most citizens when it comes to foreign investment.
There have been some negative reactions after the Harper government approved an Asian takeover of two energy companies.
“Foreign investment is not an end in itself,” Harper said about the decision.
“It is a means to an end, and that end is the long-term prosperity of Canada and Canadians.”
Despite Premier Alison Redford says she approves the decision, a CTV News poll shows most think company ownership should remain in Canada.
“We were very pleased with the decision,” Redford said.
“We were very vocal advocates for this. We believe foreign investment matters and is needed to continue to grow the oil sands.”
However, in response to a CTV poll question 58 per cent said it was the wrong move while 32 per cent said the takeovers were okay, providing the companies abide by Canadian regulations and it leads to Canadian jobs. Only 10 per cent said the move was a good one.
However, the executive director of the U of A’s Centre of Applied Business Research in Energy and the Environment said the move may inspire reciprocity from China.
“We can go to China now and go, ‘Now, we’re allowing you in here. Now, what about our manufacturing sector?’”
“It gives us an opportunity to move ahead in the Chinese market in a different way,” Dixon told CTV News.
Calgary-based Nexen will be taken over by CNOOC, a Chinese company while Malaysian petroleum giant Petronas will run Progress Energy Resources.