The Financial Post reports in its Tuesday edition the Caisse's Michael Sabia, whose fund oversees $215-billion, would love to pour some of that money into U.S. assets like airports because they meet his needs for long-term, stable cash flow. A Bloomberg dispatch to the Post says many state and municipal governments have been reluctant to open their roadways, airports and transit systems to outside investors.
Mr. Sabia has earned a reputation for his brashness in Canada. He does not shy away from big issues, including the debate around TransCanada's Keystone XL pipeline. The Caisse holds stakes in pipeline operators Enbridge and TransCanada. The way Mr. Sabia sees it, Keystone XL pipeline is the right choice for Canada and the U.S., though there are other ways to get Canada's oil to market.
"If, for whatever reason, Keystone is not approved, there will be other answers," Mr. Sabia told Bloomberg, citing the proposed Energy East line and moving crude by rail.
Mr. Sabia is critical of both pipeline companies for their poor public-relations performance, saying they have not been good at winning "social licence." "If you're not good at getting the social licence then you never get to run the pipeline," he said.
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