The Globe and Mail reports in its Wednesday, Feb. 21, edition that one of the key reasons for Canada's prosperity is that it has been an attractive, reliable, rule-of-law kind of place to invest.
The Globe's Martha Hall Findlay writes that this reputation has been disappearing. Most problematic are two examples of the uncertainty caused by political veto. Enbridge's Northern Gateway project took 10 years to be approved, with conditions, by the federal government, only to have the next federal government kill it, for politics.
The NEB approved the Kinder Morgan Trans Mountain expansion in 2016, with 157 conditions. Kinder met the conditions and Ottawa gave final approval. Then the government of British Columbia issued five additional demands. If the commitment of a government is worthless when that government changes, no one in their right mind would want to invest.
This may make certain activists happy. It most certainly makes U.S. oil companies very happy to pay half-price for Canadian oil because we cannot get it to any other market. Ms. Wente says Canadians should be furious at how a small number of people are jeopardizing such an important part of our economic prosperity -- our national interest.
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