Canada's NDP

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October 11th, 2012

Conservatives must use extension for Nexen takeover decision to consult Canadians

Extension must be more than a public relations exercise and be used to really consult interested parties, urges NDP

New Democrats welcome the Conservatives’ decision to extend the review period for the proposed takeover of Nexen by the state-owned CNOOC and call on the government to use this time for public consultations and to disclose the consequences and benefits of this deal.

“There are still many unanswered questions and it’s the Conservatives’ job to respond to these questions before selling our resources to the highest bidder,” said NDP Natural Resources critic Peter Julian. “The biggest question now is: are we going to have a genuinely transparent and complete study of the deal or is it going to be 30 more days of secrecy and political games?”

Announced in July, the $15.1 billion transaction raises many questions, including whether or not Chinese state owned CNOOC will protect jobs and keep the head office in Canada. It’s also unclear how Canada’s environmental standards will be enforced.

“I would hope that the Industry Minister uses these additional days to consult with experts, business people and workers who are concerned about the impacts of this transaction,” said Industry critic Hélène LeBlanc. ”This is a critical sector of our economy and Canadians have the right to know what they’re getting into.”