10:32:21 EDT Fri 29 Mar 2024
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NuVista Energy Ltd
Symbol NVA
Shares Issued 225,327,895
Close 2019-04-18 C$ 4.83
Market Cap C$ 1,088,333,733
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Globe says NuVista CEO sees Kenney as an oil "champion"

2019-04-18 08:34 ET - In the News

Also In the News (C-CNR) Canadian National Railway Company
Also In the News (C-CP) Canadian Pacific Railway Ltd

The Globe and Mail reports in its Thursday edition that oil-industry executives are counting on Jason Kenney to be their champion in taking on the federal government and the industry's critics. The Globe's Shawn McCarthy writes that Mr. Kenney plans to scrap the carbon tax, slash corporate tax rates and cut other regulations. He has also vowed to go to war with the federal Liberal government over its climate-change policies, and with environmental critics. The UCP campaign platform was supportive of the NDP's program to cut oil production but was opposed to the plan to purchase rail cars to move oil to markets. Industry executives welcomed the UCP's promise to cut corporate taxes, reduce the regulatory burden by a third and establish a "competitive" climate-change policy. There is disagreement among them, however, over whether Mr. Kenney should lift the production cuts ordered by outgoing Premier Rachel Notley, and also disagreement over completing the government's purchase of rail cars to expand export capacity. NuVista Energy chief executive officer Jonathan Wright says: "Jason Kenney is a huge supporter of our industry and business in general. He's going to be a champion for Canadian oil and gas."

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