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Showing results for tags 'Nexen'.
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?