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Harper Protecting Canada Oil From China May Slow Growth

Business Week --
Prime Minister Stephen Harper’s decision to protect Canadian oil companies like Suncor Energy Inc. (SU) from being controlled by Chinese and other state-owned enterprises may hinder the country’s ability to attract the C$650 billion ($658 billion) needed to develop its resources.
After approving bids by China’s Cnooc Ltd. (883) and Malaysia’s Petroliam Nasional Bhd. for Nexen Inc. (NXY) and Progress Energy Resources Corp. (PRQ), both of Calgary, Harper said last week that would be the “end of a trend” because state-run companies may have “larger purposes” that go beyond commercial objectives.
“To be blunt, Canadians have not spent years reducing the ownership of sectors of the economy by our own governments only to see them bought and controlled by foreign governments instead,”

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Submitted Dec 11, 2012 By: LetemEatCake

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drpepperTX Champion Author Texas Posts:8,953 Points:754,120 Joined:Apr 2011	Message Posted: Dec 12, 2012 4:27:51 PM Ignore drpepperTX Report Abuse You're welcome letemeatcake! There's a lot of truth in some of those comments and the truth shall let you free!
pbalmeo All-Star Author Los Angeles Posts:890 Points:188,840 Joined:Aug 2011	Message Posted: Dec 12, 2012 11:46:13 AM Ignore pbalmeo Report Abuse It's all about the $.
virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Dec 12, 2012 7:15:37 AM Ignore virostek Report Abuse OK
LetemEatCake Champion Author Oklahoma City Posts:5,609 Points:1,207,330 Joined:Mar 2008	Message Posted: Dec 11, 2012 10:35:17 PM Ignore LetemEatCake Report Abuse Thanks all for the interesting comments!
pleinyeux All-Star Author Montreal Posts:791 Points:201,580 Joined:Oct 2012	Message Posted: Dec 11, 2012 8:41:00 PM Ignore pleinyeux Report Abuse keep the chinese out
CheckitoutGuy Champion Author San Diego Posts:1,311 Points:769,590 Joined:Mar 2008	Message Posted: Dec 11, 2012 4:17:38 PM Ignore CheckitoutGuy Report Abuse Hummm
bluebird1 Champion Author Toronto Posts:15,745 Points:3,110,075 Joined:May 2004	Message Posted: Dec 11, 2012 12:28:19 PM Ignore bluebird1 Report Abuse Where is this author from...Harper allowed the largest foreign investment by Chinese gov't in our Country for about $16B. HOw is this protecting Cdn oil??? What he did say was China is getting special treatment & don't expect other gov'ts allowed to do the same (that's gov'ts, not foreign investors & there is a big difference). Personally, I don't agree with Harper & China will not be open about running it - heck they're not even open to their own citizens about energy, banking & whatever else that's all state run. Of course, Harper's gov't (he changed it from gov't of Canada, I guess for ego purposes) is the most closed gov't we've ever had & becoming one of the worst we've had (& remember we've had PM's that talked to ghosts & followed advice o their dogs).
AriesMMD Champion Author Sacramento Posts:1,496 Points:413,490 Joined:Dec 2011	Message Posted: Dec 11, 2012 12:17:08 PM Ignore AriesMMD Report Abuse One step forward for the free market economy. I wonder if our government is already to far in hock to the Chinese to try a move in that direction?
Cheepo Champion Author Tampa Posts:9,889 Points:3,128,005 Joined:Apr 2003	Message Posted: Dec 11, 2012 12:02:32 PM Ignore Cheepo Report Abuse I agree with Fitwit, good for canada, keep the chinese out of this continent!!!!!!!!!
BIGOILEATURCRUD Champion Author North Carolina Posts:5,785 Points:1,380,450 Joined:Nov 2008	Message Posted: Dec 11, 2012 11:52:12 AM Ignore BIGOILEATURCRUD Report Abuse @ Fitwit; Maybe you can move to Canada and enjoy Harper more.
DYSKYPILOT Champion Author Fort Worth Posts:2,912 Points:627,655 Joined:Mar 2006	Message Posted: Dec 11, 2012 11:44:14 AM Ignore DYSKYPILOT Report Abuse Ok.
mackconsult Champion Author Portland Posts:5,309 Points:864,355 Joined:Jan 2009	Message Posted: Dec 11, 2012 11:39:20 AM Ignore mackconsult Report Abuse Don't we love it when govt tries to control things.
unicornpmb Champion Author Buffalo Posts:8,501 Points:1,631,465 Joined:Sep 2005	Message Posted: Dec 11, 2012 11:30:18 AM Ignore unicornpmb Report Abuse Good neighbors.
Fitwit Champion Author Stockton Posts:6,409 Points:1,357,820 Joined:May 2009	Message Posted: Dec 11, 2012 11:29:06 AM Ignore Fitwit Report Abuse Harper is a good Prime Minister and I like what he does. Maybe Canada could take over the U.S. instead of other evil political and social and spiritual forces. Or maybe we can have a revival here and turn back to God and be saved.
GRUMPY55 Champion Author California Posts:1,629 Points:424,250 Joined:Oct 2011	Message Posted: Dec 11, 2012 11:26:27 AM Ignore GRUMPY55 Report Abuse Good for Canada
bigmace111 Champion Author Albany Posts:2,733 Points:616,550 Joined:May 2011	Message Posted: Dec 11, 2012 11:25:17 AM Ignore bigmace111 Report Abuse It may slow the growth however it will help keep China from taking over the world.
Grismer Champion Author Kitchener-Waterloo Posts:8,544 Points:1,725,995 Joined:Apr 2008	Message Posted: Dec 11, 2012 11:24:43 AM Ignore Grismer Report Abuse Canada needs to concentrate more on developing secondary industries within the the country rather than simply exporting natural resources to the highest bidder. Mutually beneficial trade agreements between the U.S. and Canada would go a long way to advance economic growth in both countries.
bra0712 Champion Author Arizona Posts:3,671 Points:770,365 Joined:Nov 2008	Message Posted: Dec 11, 2012 11:24:22 AM Ignore bra0712 Report Abuse Canada just can't win lol
Ken2OD Champion Author Grand Rapids Posts:9,082 Points:1,973,890 Joined:Dec 2005	Message Posted: Dec 11, 2012 11:23:57 AM Ignore Ken2OD Report Abuse It may already be too late! China is slowly pushing their "noses" into our tents just like "CAMELLING." Once the camel gets his nose into your tent to keep warm, he slowly creeps further and further into your domain until his entire rump and tail are totally inside and you are eventually pushed outside into the cold desert air.
TAT36 Champion Author Florida Posts:6,814 Points:1,305,950 Joined:Sep 2009	Message Posted: Dec 11, 2012 11:20:31 AM Ignore TAT36 Report Abuse Seems like the Canadians have it together, unlike!!!!
fenster66 Champion Author Pittsburgh Posts:3,360 Points:676,040 Joined:May 2011	Message Posted: Dec 11, 2012 11:20:14 AM Ignore fenster66 Report Abuse China seems to be everywhere....
leraar2 Champion Author Massachusetts Posts:3,774 Points:789,630 Joined:Mar 2011	Message Posted: Dec 11, 2012 11:19:19 AM Ignore leraar2 Report Abuse sure, why not just give the natural resources away instead.
40mpgsaturn Champion Author Wisconsin Posts:2,500 Points:522,380 Joined:Jun 2011	Message Posted: Dec 11, 2012 11:18:55 AM Ignore 40mpgsaturn Report Abuse They are smart! China is not your friend!
sdiddydaddy Champion Author Grand Rapids Posts:1,101 Points:397,745 Joined:Jan 2012	Message Posted: Dec 11, 2012 11:18:11 AM Ignore sdiddydaddy Report Abuse Good for them. Be patient and stick with what you believe. Nice to see somebody not selling out for once.
BMWer Champion Author Calgary Posts:2,081 Points:1,667,295 Joined:Dec 2003	Message Posted: Dec 11, 2012 11:15:55 AM Ignore BMWer Report Abuse There is nothing wrong with going slowly...the oil is not going anywhere.
NightRider Champion Author Dallas Posts:1,410 Points:77,250 Joined:Apr 2012	Message Posted: Dec 11, 2012 11:15:18 AM Ignore NightRider Report Abuse Maybe the U.S. can take a lesson from the Canadians.
Car54BC08 Champion Author British Columbia Posts:4,264 Points:1,512,290 Joined:Jun 2008	Message Posted: Dec 11, 2012 11:14:47 AM Ignore Car54BC08 Report Abuse Other innovations should be tried
mysub Champion Author Las Vegas Posts:8,921 Points:2,332,415 Joined:Apr 2006	Message Posted: Dec 11, 2012 11:14:47 AM Ignore mysub Report Abuse Good for you Canada. Smart move.
Don20 Champion Author Oklahoma City Posts:9,682 Points:2,621,580 Joined:Mar 2005	Message Posted: Dec 11, 2012 11:13:35 AM Ignore Don20 Report Abuse To be blunt, Canadians have not spent years reducing the ownership of sectors of the economy by our own governments only to see them bought and controlled by foreign governments instead,” Then don't sell it, keep it at home...
fullauto Champion Author Reading Posts:5,330 Points:1,474,015 Joined:Apr 2008	Message Posted: Dec 11, 2012 11:13:32 AM Ignore fullauto Report Abuse "the art of (business) war" is from china.
MalibuGordie Champion Author California Posts:5,535 Points:1,423,800 Joined:Sep 2008	Message Posted: Dec 11, 2012 11:12:20 AM Ignore MalibuGordie Report Abuse China will be our enemy as soon as they think they can beat us.
LoadToad Champion Author San Diego Posts:1,364 Points:1,298,045 Joined:Sep 2005	Message Posted: Dec 11, 2012 11:11:27 AM Ignore LoadToad Report Abuse That's good.
nanu4u21 Champion Author Orange County Posts:1,113 Points:240,735 Joined:Aug 2012	Message Posted: Dec 11, 2012 11:09:42 AM Ignore nanu4u21 Report Abuse ok
mrservonics Champion Author Boston Posts:2,739 Points:1,355,355 Joined:May 2005	Message Posted: Dec 11, 2012 11:09:07 AM Ignore mrservonics Report Abuse China not our enemy!
Zygnatz Champion Author British Columbia Posts:12,753 Points:2,519,210 Joined:Oct 2005	Message Posted: Dec 11, 2012 11:08:44 AM Ignore Zygnatz Report Abuse Chinese oil will be leaded, right!
rippinusoff Champion Author Lexington Posts:7,413 Points:1,489,725 Joined:May 2007	Message Posted: Dec 11, 2012 11:08:22 AM Ignore rippinusoff Report Abuse ok
CharlieC08 Champion Author Colorado Posts:8,077 Points:1,486,075 Joined:Oct 2008	Message Posted: Dec 11, 2012 11:08:21 AM Ignore CharlieC08 Report Abuse Smart on Canada's part.
habs50 All-Star Author London Posts:504 Points:263,030 Joined:Jun 2006	Message Posted: Dec 11, 2012 11:08:06 AM Ignore habs50 Report Abuse As a Canadian, I feel that Harper has sold us out. Can we survive his majority government for another 3 years? Maybe I should be starting to learn Chinese.
plbell627 Champion Author Dayton Posts:5,153 Points:1,204,230 Joined:Mar 2007	Message Posted: Dec 11, 2012 11:08:01 AM Ignore plbell627 Report Abuse Both the USA and Canada should do the same.
Ticobird Champion Author Huntsville Posts:3,241 Points:1,117,965 Joined:Oct 2009	Message Posted: Dec 11, 2012 11:06:11 AM Ignore Ticobird Report Abuse Articles like this should be read by every member of the US congress to get a better feel for how the international energy market will be built-out.
Bigtex09 Champion Author Dallas Posts:4,298 Points:1,161,235 Joined:Oct 2009	Message Posted: Dec 11, 2012 11:05:58 AM Ignore Bigtex09 Report Abuse at least canada is trying to protect themselves
Paw5X Champion Author Gary Posts:9,913 Points:2,270,230 Joined:May 2005	Message Posted: Dec 11, 2012 11:05:51 AM Ignore Paw5X Report Abuse Say what??
bowler360 Champion Author Illinois Posts:1,985 Points:501,725 Joined:Jun 2011	Message Posted: Dec 11, 2012 11:05:39 AM Ignore bowler360 Report Abuse Better slow growth than giving away your resources.
HATinMUNDY Champion Author Michigan Posts:1,692 Points:766,595 Joined:Mar 2008	Message Posted: Dec 11, 2012 11:04:56 AM Ignore HATinMUNDY Report Abuse Sounds like a conspiracy.....
flyfast Champion Author Kansas City Posts:9,258 Points:1,827,760 Joined:Jan 2008	Message Posted: Dec 11, 2012 11:03:28 AM Ignore flyfast Report Abuse be for it to late
Kato51 Champion Author Atlanta Posts:7,275 Points:2,166,715 Joined:Jul 2005	Message Posted: Dec 11, 2012 11:02:14 AM Ignore Kato51 Report Abuse Slow is better than giving to China.
2962 Champion Author Omaha Posts:1,072 Points:395,135 Joined:Feb 2006	Message Posted: Dec 11, 2012 10:59:01 AM Ignore 2962 Report Abuse kevinf28..........amen
pachukdog1 Champion Author Pensacola Posts:1,752 Points:378,475 Joined:Jan 2012	Message Posted: Dec 11, 2012 10:58:05 AM Ignore pachukdog1 Report Abuse Not very sensible.
JasTheAce All-Star Author Raleigh Posts:980 Points:174,285 Joined:Nov 2012	Message Posted: Dec 11, 2012 10:56:20 AM Ignore JasTheAce Report Abuse just buying time...
afghaned Champion Author Hamilton Posts:11,827 Points:1,288,085 Joined:May 2004	Message Posted: Dec 11, 2012 10:56:19 AM Ignore afghaned Report Abuse Ask Walmart & the dollar stores what they would be paying wityhout Chinese cheap labour. Then see Apple moving some operations back to North America because of rising labour costs in China. Where are the replicators of Star Trek???