Tuesday, November 20, 2012

Not good

Oh oh. Looks like Justin is taking policy advice from the CCCE (Canadian Council of Chief Executives, aka the Uber One Percenters)  rather than reflecting the clear desires of Canadians who oppose this takeover of Nexen by CNOOC.

Surely Justin, there are ways to "strengthen economic ties" with China, shy of takeovers like Nexen?

As a contender for the leader of the Liberal Party and a possible future Canadian Prime Minister, Justin Trudeau would be far better off enunciating the position that Canada needs a clear set of rules that govern foreign takeovers of Canadian businesses (like the need for reciprocity, etc. as recommended by thoughtful people like Diane Francis), rather than entering the fray with one-off support for the takeover of the day.

Instead Justin ends up looking like a pawn for those with commercial interests in the Nexen deal, rather than someone capable of leading the country for the benefit or more than just the one percenters

Justin Trudeau backs Chinese takeover of Nexen as way to strengthen economic ties

By Lee Berthiaume, 
Postmedia News 
November 19, 2012


OTTAWA — Justin Trudeau has come out strongly in favour of a Chinese state-owned energy company’s effort to purchase Calgary-based petroleum producer Nexen.
Trudeau made the comments in an opinion column published in some Postmedia newspapers and websites Tuesday, arguing that China’s objectives are not “sinister” and that Canada is in an enviable position for engaging the Asian power.
“China has a game plan,” the Liberal leadership contender wrote. “There is nothing inherently sinister about that. They have needs and the world has resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The Chinese National Offshore Oil Company’s $15.1-billion takeover bid for Nexen has become a sensitive issue for Stephen Harper’s government, which is expected to rule in the coming weeks on whether it will accept the deal.
There has been concern — including from some Conservative backbenchers — that permitting CNOOC to take over Nexen represents a threat to Canada’s national security.
Others, however, have warned that rejecting the takeover will anger Chinese officials and scare off other potential foreign investors.
In his opinion article, Trudeau said Canada should use its natural resources to build a foundation for broad, long-term economic engagement with the Asian power — and approving the Nexen deal would go a long way to accomplishing that goal.
“Why is the CNOOC-Nexen deal good for Canada?” Trudeau wrote. “Because Chinese and other foreign investors will create middle-class Canadian jobs …. More fundamentally, it is in Canada’s interest to broaden and deepen our relationship with the world’s second-largest economy.”
Trudeau, who will be in Calgary Tuesday, said conditions should be attached to foreign investors that require them to abide by Canadian laws and operate in good faith. And he acknowledged that there will be national security concerns in certain sectors.
“However, in the CNOOC case, Chinese ownership of three per cent of oilsands leases hardly constitutes a national security issue,” he wrote.
“Most important, the big picture isn’t about CNOOC or Petronas, but the many opportunities like them that will follow in their footsteps.”
Malaysian state-owned energy company Petronas is awaiting word from the Harper government on its plan to take over Calgary-based natural gas producer Progress Energy after its initial proposal was rejected last month.
Trudeau took a shot at the Harper government for what he called its “erratic approach and secretive behaviour” when it comes to reviewing foreign takeovers, and its failure to lay out a clear, public strategy for engaging Asia.
“The government has failed to provide the context, to make the positive case for Asia,” he wrote. “It is therefore as difficult to reject bad ideas like the Northern Gateway as it is to approve good opportunities like the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The overarching requirement is to translate China’s interest in Canadian natural resources into long-term economic prosperity for this country, he said, especially as the Asian nation’s population grows and its infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While heavy on emphasizing the need for economic engagement with China, his article makes only a passing mention of the country’s democratic and human rights record, referring to the need to engage with the Chinese instead of isolating them.
It also does not mention what the government should do when national security is a factor in a proposed foreign takeover, although an official within Trudeau’s camp indicated the Liberal leadership candidate is not in favour of different rules for privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume
OTTAWA — Justin Trudeau has come out strongly in favour of a Chinese state-owned energy company’s effort to purchase Calgary-based petroleum producer Nexen.
Trudeau made the comments in an opinion column published in some Postmedia newspapers and websites Tuesday, arguing that China’s objectives are not “sinister” and that Canada is in an enviable position for engaging the Asian power.
“China has a game plan,” the Liberal leadership contender wrote. “There is nothing inherently sinister about that. They have needs and the world has resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The Chinese National Offshore Oil Company’s $15.1-billion takeover bid for Nexen has become a sensitive issue for Stephen Harper’s government, which is expected to rule in the coming weeks on whether it will accept the deal.
There has been concern — including from some Conservative backbenchers — that permitting CNOOC to take over Nexen represents a threat to Canada’s national security.
Others, however, have warned that rejecting the takeover will anger Chinese officials and scare off other potential foreign investors.
In his opinion article, Trudeau said Canada should use its natural resources to build a foundation for broad, long-term economic engagement with the Asian power — and approving the Nexen deal would go a long way to accomplishing that goal.
“Why is the CNOOC-Nexen deal good for Canada?” Trudeau wrote. “Because Chinese and other foreign investors will create middle-class Canadian jobs …. More fundamentally, it is in Canada’s interest to broaden and deepen our relationship with the world’s second-largest economy.”
Trudeau, who will be in Calgary Tuesday, said conditions should be attached to foreign investors that require them to abide by Canadian laws and operate in good faith. And he acknowledged that there will be national security concerns in certain sectors.
“However, in the CNOOC case, Chinese ownership of three per cent of oilsands leases hardly constitutes a national security issue,” he wrote.
“Most important, the big picture isn’t about CNOOC or Petronas, but the many opportunities like them that will follow in their footsteps.”
Malaysian state-owned energy company Petronas is awaiting word from the Harper government on its plan to take over Calgary-based natural gas producer Progress Energy after its initial proposal was rejected last month.
Trudeau took a shot at the Harper government for what he called its “erratic approach and secretive behaviour” when it comes to reviewing foreign takeovers, and its failure to lay out a clear, public strategy for engaging Asia.
“The government has failed to provide the context, to make the positive case for Asia,” he wrote. “It is therefore as difficult to reject bad ideas like the Northern Gateway as it is to approve good opportunities like the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The overarching requirement is to translate China’s interest in Canadian natural resources into long-term economic prosperity for this country, he said, especially as the Asian nation’s population grows and its infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While heavy on emphasizing the need for economic engagement with China, his article makes only a passing mention of the country’s democratic and human rights record, referring to the need to engage with the Chinese instead of isolating them.
It also does not mention what the government should do when national security is a factor in a proposed foreign takeover, although an official within Trudeau’s camp indicated the Liberal leadership candidate is not in favour of different rules for privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume


Read more: http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleebYiI
OTTAWA — Justin Trudeau has come out strongly in favour of a Chinese state-owned energy company’s effort to purchase Calgary-based petroleum producer Nexen.
Trudeau made the comments in an opinion column published in some Postmedia newspapers and websites Tuesday, arguing that China’s objectives are not “sinister” and that Canada is in an enviable position for engaging the Asian power.
“China has a game plan,” the Liberal leadership contender wrote. “There is nothing inherently sinister about that. They have needs and the world has resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The Chinese National Offshore Oil Company’s $15.1-billion takeover bid for Nexen has become a sensitive issue for Stephen Harper’s government, which is expected to rule in the coming weeks on whether it will accept the deal.
There has been concern — including from some Conservative backbenchers — that permitting CNOOC to take over Nexen represents a threat to Canada’s national security.
Others, however, have warned that rejecting the takeover will anger Chinese officials and scare off other potential foreign investors.
In his opinion article, Trudeau said Canada should use its natural resources to build a foundation for broad, long-term economic engagement with the Asian power — and approving the Nexen deal would go a long way to accomplishing that goal.
“Why is the CNOOC-Nexen deal good for Canada?” Trudeau wrote. “Because Chinese and other foreign investors will create middle-class Canadian jobs …. More fundamentally, it is in Canada’s interest to broaden and deepen our relationship with the world’s second-largest economy.”
Trudeau, who will be in Calgary Tuesday, said conditions should be attached to foreign investors that require them to abide by Canadian laws and operate in good faith. And he acknowledged that there will be national security concerns in certain sectors.
“However, in the CNOOC case, Chinese ownership of three per cent of oilsands leases hardly constitutes a national security issue,” he wrote.
“Most important, the big picture isn’t about CNOOC or Petronas, but the many opportunities like them that will follow in their footsteps.”
Malaysian state-owned energy company Petronas is awaiting word from the Harper government on its plan to take over Calgary-based natural gas producer Progress Energy after its initial proposal was rejected last month.
Trudeau took a shot at the Harper government for what he called its “erratic approach and secretive behaviour” when it comes to reviewing foreign takeovers, and its failure to lay out a clear, public strategy for engaging Asia.
“The government has failed to provide the context, to make the positive case for Asia,” he wrote. “It is therefore as difficult to reject bad ideas like the Northern Gateway as it is to approve good opportunities like the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The overarching requirement is to translate China’s interest in Canadian natural resources into long-term economic prosperity for this country, he said, especially as the Asian nation’s population grows and its infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While heavy on emphasizing the need for economic engagement with China, his article makes only a passing mention of the country’s democratic and human rights record, referring to the need to engage with the Chinese instead of isolating them.
It also does not mention what the government should do when national security is a factor in a proposed foreign takeover, although an official within Trudeau’s camp indicated the Liberal leadership candidate is not in favour of different rules for privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume


Read more: http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleebYiIv
OTTAWA — Justin Trudeau has come out strongly in favour of a Chinese state-owned energy company’s effort to purchase Calgary-based petroleum producer Nexen.
Trudeau made the comments in an opinion column published in some Postmedia newspapers and websites Tuesday, arguing that China’s objectives are not “sinister” and that Canada is in an enviable position for engaging the Asian power.
“China has a game plan,” the Liberal leadership contender wrote. “There is nothing inherently sinister about that. They have needs and the world has resources to meet those needs.
“We Canadians have more of those resources — and therefore more leverage — than any nation on Earth.”
The Chinese National Offshore Oil Company’s $15.1-billion takeover bid for Nexen has become a sensitive issue for Stephen Harper’s government, which is expected to rule in the coming weeks on whether it will accept the deal.
There has been concern — including from some Conservative backbenchers — that permitting CNOOC to take over Nexen represents a threat to Canada’s national security.
Others, however, have warned that rejecting the takeover will anger Chinese officials and scare off other potential foreign investors.
In his opinion article, Trudeau said Canada should use its natural resources to build a foundation for broad, long-term economic engagement with the Asian power — and approving the Nexen deal would go a long way to accomplishing that goal.
“Why is the CNOOC-Nexen deal good for Canada?” Trudeau wrote. “Because Chinese and other foreign investors will create middle-class Canadian jobs …. More fundamentally, it is in Canada’s interest to broaden and deepen our relationship with the world’s second-largest economy.”
Trudeau, who will be in Calgary Tuesday, said conditions should be attached to foreign investors that require them to abide by Canadian laws and operate in good faith. And he acknowledged that there will be national security concerns in certain sectors.
“However, in the CNOOC case, Chinese ownership of three per cent of oilsands leases hardly constitutes a national security issue,” he wrote.
“Most important, the big picture isn’t about CNOOC or Petronas, but the many opportunities like them that will follow in their footsteps.”
Malaysian state-owned energy company Petronas is awaiting word from the Harper government on its plan to take over Calgary-based natural gas producer Progress Energy after its initial proposal was rejected last month.
Trudeau took a shot at the Harper government for what he called its “erratic approach and secretive behaviour” when it comes to reviewing foreign takeovers, and its failure to lay out a clear, public strategy for engaging Asia.
“The government has failed to provide the context, to make the positive case for Asia,” he wrote. “It is therefore as difficult to reject bad ideas like the Northern Gateway as it is to approve good opportunities like the CNOOC and Petronas deals.”
Trudeau has opposed the proposed Northern Gateway, citing environmental concerns.
The overarching requirement is to translate China’s interest in Canadian natural resources into long-term economic prosperity for this country, he said, especially as the Asian nation’s population grows and its infrastructure needs increase.
“We should be creative when thinking about what a trade deal with China could look like,” Trudeau wrote.
While heavy on emphasizing the need for economic engagement with China, his article makes only a passing mention of the country’s democratic and human rights record, referring to the need to engage with the Chinese instead of isolating them.
It also does not mention what the government should do when national security is a factor in a proposed foreign takeover, although an official within Trudeau’s camp indicated the Liberal leadership candidate is not in favour of different rules for privately owned and state-owned foreign companies.
lberthiaume@postmedia.com
Twitter:/leeberthiaume


Read more: http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleebYiI


Justin Trudeau backs Chinese takeover of Nexen as way to strengthen economic ties



Read more: http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleTwKDb

Justin Trudeau backs Chinese takeover of Nexen as way to strengthen economic ties



Read more: http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleQ422e

Justin Trudeau backs Chinese takeover of Nexen as way to strengthen economic ties



Read more: http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleQ422e

Justin Trudeau backs Chinese takeover of Nexen as way to strengthen economic ties



Read more: http://www.canada.com/Justin+Trudeau+backs+Chinese+takeover+Nexen+strengthen+economic+ties/7572659/story.html#ixzz2CleQ422e

7 comments:

Jordan said...

Dumb post, no offence.

Bruce Benson said...

Dumb post, NO, Dumb ass Trudeau, YES

Joey Italo Cardamone said...

Justin not so fast !
Do you know what your talking about ? This is not some canoe trip down a stream.
Your selling out Canadian strategic resources and losing management control to collect royalties and to create jobs. Inco probably had the longest strike in its history since the takeover, Stelco is gone !

Justin please give Elizabeth May a call she will brief you on the file
JC

Anonymous said...

Agreed, unless he does a 180 on this issue, I won't be voting Liberal or cutting the LPC another cheque.

mb

Jordan said...

You're not much of a Liberal if for one you don't support a potential leader for embracing liberalism, and two if you're willing to give up on a party because you disagree with one policy.

Brent Fullard said...

I just bumped into (Former) Senator Jerry Grafstein and we started talking about the two Liberal leadership races going on federally and provincially in Ontario.

The conversation lead to Justin and Senator Grafstein applauded Justin for his position on the proposed Nexen takeover by CNOOC.

I told Jerry that I oppose Justin's position on this takeover and that Justin would have been wiser to espouse a policy position on takeovers at large, rather than a one-off endorsement of the takeover du jour.

I commented that such a takeover policy framework should included matters like reciprocity, etc. as stated in my original blog post.

Senator Grafstein insisted that Justin's position did indeed raise such a condition of reciprocity and said I should read Justin's piece on Justin.ca.

Upon returning home I did that very thing.

Sadly, Justin's piece raises no such conditions, in fact it raises no conditions whatsoever for the takeover of Nexen by CNOOC. See for yourself at:

http://justin.ca/justin-trudeau-why-the-cnooc-nexen-deal-is-good-for-canada/

Anonymous said...

Yup just read Justin's carve out piece, found a stream leading nowhere !

jc