Jason Fekete
Prime Minister Stephen Harper says CNOOC's takeover bid for Canadian energy company Nexen "raises a range of difficult policy questions" for his
government as it decides whether to approve the transaction.
The prime minister's comments Thursday - some of his strongest yet on the issue - added more intrigue to a day that saw the NDP announce it opposes the
deal as currently structured, due to what it says is a secretive review process, the government's history of "rubber stamping" deals and CNOOC's poor track
record.
The Conservative cabinet is currently reviewing, under the Investment Canada Act, whether China National Offshore Oil Corporation's (CNOOC)
$15.1-billion takeover of Calgary-based petroleum producer Nexen is of "net benefit" to Canada.
The government's review - and the ramifications of its decision on future foreign investment and takeovers, especially in the oilsands sector - is proving
to be a somewhat divisive issue within the Tory cabinet and caucus.
Harper said his government is generally welcoming of foreign investment, but he noted it has significantly modified some previous takeover bids and
rejected a couple of others.
The prime minister has previously indicated public opinion, which repeated polls have shown is quickly souring on the deal, will be a factor in the
government's decision, and he reinforced that again Thursday.
"This particular transaction raises a range of difficult policy questions, difficult and forward-looking issues, and those things will all be taken into
account under the act in assessing the net benefit of this investment to this country before we take a decision. And obviously we continue to gather
information and opinion on that," Harper told reporters on Parliament Hill.
Harper said concerns raised by U.S. officials about CNOOC's acquisition of Nexen - and the company's assets in the Gulf of Mexico - won't influence his
government's decision, nor will the NDP's opposition to the deal.
"The NDP is an ideologically socialist party that's opposed to all investment, so their position on this is not a surprise," the prime minister
added.
"We do have to remember as Canadians that a lot of jobs in this country, a lot of jobs and growth depend on the investments that come to this country."
The NDP announced its position a day after Conservatives defeated the official Opposition's motion in the House of Commons that called for public
consultation on the deal and public hearings into foreign ownership in the Canadian energy sector by state-owned enterprises such as Beijing-based CNOOC.
The party is also looking for the federal government to fulfil its two-year-old promise to clarify the concept of "net benefit" in the Investment
Canada Act.
Reviews under the Investment Canada Act are all handled in backrooms with nebulous criteria on how a decision is made, the NDP says.
"We think the concerns outweigh the benefits," NDP energy critic Peter Julian told reporters Thursday in Ottawa as he announced the party's position.
"We do not have confidence in the government's ability to handle this transaction," he added.
"They've completely botched this file. This is a mess of the government's own making."
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NDP Critic for Canadian Heritage Peter Julian issued the following statement:
"It has come to our attention that a consultant for a federally funded anti-racism project has a disturbing track record of spewing hate speech online against Jewish and francophone communities. This is completely unacceptable. We call on the Minister of Heritage to take drastic action and terminate his contract.
NDP Heritage Critic Peter Julian issued the following statement:
“Today’s announcement by Hockey Canada is another attempt to delay the important and urgent work to deal with the toxic culture in this organization. While a former Supreme Court Justice is a credible appointment to conduct the review into Hockey Canada, this won’t be the first time the organization undergoes this process.
NDP critic for Canadian Heritage, Peter Julian, made the following statement:
“Canadians are horrified by the incidents of sexual assault and by what they’re hearing from Hockey Canada. They are left with many questions about how this toxic culture is allowed to persist in our sports organizations and what the government is actually doing to ensure this doesn’t happen again.