IN THE NEWS ~ Ottawa must reject Nexen deal:NDP

   NDP has finally come out strongly against CNOOC's $15.1-billion takeover of Nexen, citing lack of transparency in the approval process, and an alarming

number of questions left unanswered by the federal government for its decision to oppose 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," said Natural Resources critic Peter Julian in a statement.

   Parliament began debating an NDP motion presented on October 2 demanding the government hold public consultations on the CNOOC-Nexen deal before deciding whether to approve it. The motion won the support of the Liberal Party but is unlikely to pass given the Conservative majority.

   The motion also calls for public hearings into the issue of foreign ownership in the Canadian energy sector, particularly regarding acquisitions by

foreign state-owned enterprises.

   "By studying this transaction behind closed doors and not specifying what criteria they used to determine what represents a net benefit for the country,

the Conservatives have given us no choice. When in doubt, it's best to back off," said Industry critic Hélène LeBlanc.

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