This is a bit profane, but it contains no small measure of truth.
Or, to put it a different way:
Nexen-CNOOC deal approved… que Left-wing sheep rants with no understanding of economics, the company, or the terms.
The Rant: China is taking over our resources.
The Reality: The Alberta government owns all the producing and non-producing leases that Nexen has. Nexen has maybe 1.5 billion barrels of oil equivalents, and the oil sands alone contain over 1500 billion barrels. 90 percent of Nexen’s Q3 cash flow came from outside of Canada, so it’s only 10 percent “Canadian” resources anyway… Not a huge deal. Anyone in the Financial markets or the Oil and Gas industry knows this is the right decision and will result in increased productivity and job production in Canada. This small stake is not a threat to national security.
The Rant: China is going to take all the jobs and move them to China.
The Reality: Not allowed under the restrictions. More jobs created in Canada due to increased Capital injections.
The Rant: The NDP or Liberals would never do this.
The Reality: No previous Governments have ever blocked a foreign takeover. The Conservatives were the first with the blocking of the Potash deal.
There is a huge amount of ignorance and uneducated opinions on this topic, which is why there is a backlash from lefty loonies. Canadians who understand the full terms and the free market economy should be happy.
The US had a monopoly on our oil and were paying $25.00 per barrel less than world prices. That will end. Maybe the yanks should have thought thru using the Keystone pipeline as a political tool to appeal to the President’s anti free market base.
Elections have consequences. Canada has no intention of following the now marxist USA into the dumper. When you shit on your friends, don’t be surprised when they find new friends.