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... by the industry, the federal government, provincial governments and the media. It's ambitious to pack all of this into one thread but let's give it a go. Everyone with more than 6 brain cells knows that the world petroleum industry is in trouble and, as a high cost producer of dirty fuel, the Canadian industry will feel it first. Between oversupply due to fracking and being undercut by lower cost and much cleaner wind and solar, the industry is facing decades of downsizing. So, of course the reaction is to whip up a public panic about how Canada is losing millions, wait, billions, no trillions, hang on, centillions of dollars. In fact, if it weren't for the rest of Canada and those all-powerful George Soros-funded environmental groups, every Albertan would have a yacht in their driveways, parked right next to the 1 ton pickup with dual wheels and a bumper sticker saying "Jason Kenney for Emperor". Worldwide, the industry is famous for the way it engenders corruption and controls the governments that are supposed to be controlling it. The corruption situation in Canada isn't as obvious but numerous books have been written (and mainly ignored by the mainstream media) about how governments are nothing more than cheerleaders, apologists and, when push comes to shove, henchmen, for one of the dirtiest industries in history.
My family has been in the oil and gas business for almost 80 years and neither my father nor uncles think the Nexen deal was a good one for Canada. They say if China was so desperate for oil they would have settled for 49% and Canada was dead erong to give controlling interest to the Chinese. Would we have made the same deal with the Russians? So why would take such a risk with China? This basically gave Canada's self-sufficiency a bullet to the head because in 20 years or so Canadian oil will be going to China and we'll be importing American oil! Canada should never be dependent on foreign countries - any foreign country for oil. We saw the bribery taking place with the Chinese on the lumber deal, and I wonder if the same may have influenced such a bad decision on the Nexen deal?