Chairman Harper and the Chinese Sell-Out

[fjlip]

Most of these deals are started by offers to buy, not for sale notices.
If it's not for sale why the hell does another monster corp, state owned or other wise be allowed to buy our smaller corp?
Viterra perfect example.
I say keep it smaller, keep them Canadian as much as possible.

[liberty]

Andrew Nikiforuk never met a portion of the oil and gas industry that he didn't hate. I find his histrionics puzzling considering that the oil and gas industry is the only reason that Canada is not in the same depths of recession that the U.S. is. But I guess we can make our economy boom with enough windmills and solar panels, just like in Europe, huh?

[TOM4CWB]

sooo

When Brad Wall told PM Harper to leave SK potash alone... did PM Harper do the wrong thing?

I think NOT.

PM Harper is an incrementalist... and he does listen to his MP's.

Stephen has no more to gain than any one of us... or our Conservative MP's from western Canada. Our objective is to build a better Canada for the next generation.

Mustard I think you have been drinking deeply of ND/Bloc/LiB waters again!

I wouldn't expect anything different than BHP... either decrease concentration in the industry... or it will be thumbs down... would be my best estimate. 80 percent of CDNs would agree with me... wouldn't they?

Cheers!

[nicolaas]

All they are doing is buying an existing company, maybe with a 20% premium to the shareholders. There is NO new money coming in. How is this a net benefit to the country? There is no way that any of these deals will go through by this criteria. CHinese workers in the coal mines of northern BC is another interesting development that will also happen in the oil patch. Read whats happening in Africa with these guys giving a pittance in royalties to the government and shipping raw products back to china. Let them stay minority stakeholders in projects. I'm sure Harper will do the right thing as with progress. I have total faith in his judgement.

[Hopperbin]

Some of our tax dollars are gotten by reselling or estate tax of some sort. If a Chinese company buys assets that is a state owned Chinese company they will most likely never resell for a profit or can sell product at a loss or low income so as to have profit in their own country or well you know chinese are masters at cheating. I don't think selling to chinese state is best interest in our country. We can do it ourselves.

[ASRG]

I don't think this deal is dead? Just a thirty day delay while Petronas tidies a few things up and jumps through a few bureacratic hoops?

Harper came out yesterday and said we need some guidelines on these takeovers by foreign government owned companies.
He said the government will soon present those guidelines.

[mustardman]

Harper is in a bit of a quandry.
We see the Canada Action ads on tv that are actually conservative ads. But paid for by the Public.
They are telling How much we need the Northern Gateway Pipeline ,which Happens to be HEAVILY funded by China.
So How is he going to tell them they can't buy our oil companies.

[ASRG]

mustardman: I imagine Harper is tearing his hair out over Northern Gateway! He knows the NDP is likely to form the next government in BC and in all likelyhood that will stick a fork in Northern Gateway.....which will slow to a crawl the exploitation of the oilsands!

Not so good when his whole stratedgy has been to turn Canada into a petro state? Puts a damper on his hopes to be sitting on the Board of directors of Sinopec and CNOOC, when he retires from politics!

Crony capitalism only works when you can deliver to your pals!