New Canadian Politics Thread

[Leafyblue]

More than $1 trillion in foreign investment exited the Canadian economy between 2015 and 2024, what the report calls the “largest capital exodus in Canadian history.”

What was the reason for this?

 

[MindzEye]

What do we do that we were looking for foreign investment in during that period?

Seriously? We produce energy, raw materials, etc, etc. Most of that exiting money would have been the multinationals exiting the oil sands over costs, and concerns of eventual stranded assets in a cheap world oil environment. There were cheaper alternatives to invest in elsewhere. Remember, just south of Alberta is a fracking wonderland where they let you do more or less whatever the fuck you want to the environment up to and including unsettling enough porous rock to create significant localized earthquakes, and generate more profit for barrel for far less fixed startup cost.

It's not like we spent the previous 30 years building out any other industries other than a bit of automotive assembly.

 

[Leafyblue]

What do we do that we were looking for foreign investment in during that period?

Seriously? We produce energy, raw materials, etc, etc. Most of that exiting money would have been the multinationals exiting the oil sands over costs, and concerns of eventual stranded assets in a cheap world oil environment. There were cheaper alternatives to invest in elsewhere. Remember, just south of Alberta is a fracking wonderland where they let you do more or less whatever the fuck you want to the environment up to and including unsettling enough porous rock to create significant localized earthquakes, and generate more profit for barrel for far less fixed startup cost.

It's not like we spent the previous 30 years building out any other industries other than a bit of automotive assembly.

So, Trudeau.

 

[MindzEye]

So, Trudeau.

The worst that you can say about Trudeau regarding this specific point is that he didn't do enough (anything) to diversify the economy away from the track it was on. Lack of vision has been a political problem in Canada for 50 years now though. Our aspirations were to be a convenient supplier of natural wealth to the US, for them to turn into value added products and generate real wealth with.

He was far more benevolent to the resource sector than the average Albertan wants you to believe.

 

[LeafGm]

The worst that you can say about Trudeau regarding this specific point is that he didn't do enough (anything) to diversify the economy away from the track it was on. Lack of vision has been a political problem in Canada for 50 years now though. Our aspirations were to be a convenient supplier of natural wealth to the US, for them to turn into value added products and generate real wealth with.

He was far more benevolent to the resource sector than the average Albertan wants you to believe.

‘Bertans really don’t like to think or talk much about that time Justin spent $4.5B in taxpayer money to bail out a pipeline for them.