We knew the NDP’s anti-business policies would hurt the economy, particularly the hard hit oil and gas industry, but now we’re seeing junior companies selling off their assets and running from the oil sands while majors like Suncor and CNRL scoop them up.
Suncor CEO Steve Williams has said he doesn’t think the exodus of international companies from the oil sands is over yet and that there aren’t a lot of companies with the balance sheet to buy some of these assets.
But guess who does have that capital? Suncor does.
Watch as I explain how big oil is cashing in on the fire sale of junior oil and gas companies caused by the Notley NDP's destructive policies.
The role of many of these junior companies is in exploration, but it can cost over $10M to drill just one well. The majority of these companies have simply moved over to private equity, a sign that there’s no interest in Canadian projects because they’re just too expensive.
Aren’t Rachel Notley and the NDP in it to fight for the little guy?
Instead, their policies work against the little guy and it’s the major corporations that are cashing in.
Steve Williams says the exodus of investments from Alberta isn’t over yet and he’s right about that because the Alberta NDP are helping it along.