The government should use the China National Offshore Oil Corporationâ€™s takeover bid for Canadian energy company Nexen as an opportunity to finally define what â€˜net benefitâ€™ means in its foreign investment review, says the NDP.
â€œThis is a whole different scale in terms of CNOOC making this large of a takeover proposal. What weâ€™ve seen from state companies in the past have been small takeovers,â€� said NDP MP Peter Julian (Burnaby-New Westminster, B.C.), his partyâ€™s natural resources critic, who described the takeover bid as a â€œwake-up callâ€� for the government. â€œNow we have a huge case with significant ramifications. Theyâ€™ve got to put in place an open and transparent review process.â€�